Mar, 31, 2022 — METROWEST COMMUNITY FEDERAL CREDIT UNION is a federal credit union headquartered in FRAMINGHAM, MA with 1 branch location and about $132.85 million in total assets. Opened 81 years ago in 1941, METROWEST COMMUNITY FEDERAL CREDIT UNION has about 7,331 members and employs 14 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | METROWEST COMMUNITY FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 200 Concord St FRAMINGHAM, MA 01702-8306 |
| Phone: | (508) 879-5522 |
| Fax: | |
| Website: | http://www.mwcfcu.com |
| Branches: | 1 branch locations |
| Members: | 7,331 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 4731 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1941 |
| Last Audited: | Sep 01, 2021 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $132,851,434 |
| CEO/Manager: | Joseph Mansour |
| Chairperson: | Paul Barbieri |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 8,609,711 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 46,034,362 |
| Unsecured Loans | 6,278,285 |
| Other Loans | 16,358,173 |
| TOTAL LOANS | 68,670,820 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -276,016 |
| Land And Building | 350,658 |
| Other Fixed Assets | 167,383 |
| NCUSIF Deposit | 1,104,045 |
| All Other Assets | 0 |
| TOTAL ASSETS | 132,851,434 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 1,376 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | -1,036,312 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 17,440,081 |
| Regular shares | 48,314,632 |
| All Other Shares & Deposits | 57,808,565 |
| TOTAL SHARES & DEPOSITS | 123,563,278 |
| TOTAL LIABILITIES | 122,528,342 |
| Regular Reserve | 0 |
| Other Reserves | -1,286,074 |
| Undivided Earnings | 11,609,166 |
| TOTAL EQUITY | 10,323,092 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 132,851,434 |
| INCOME & EXPENSE | |
| Loan Income | 614,570 |
| Investment Income | 144,315 |
| Other Income | 115,222 |
| Total Employee Compensation & Benefits | 327,332 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 368,654 |
| Non-operating Income & (Expense) | 9,000 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 17,500 |
| Cost of Funds | 116,618 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 91,500 |
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