Dec, 31, 2023 — LYNN FIREMENS FEDERAL CREDIT UNION is a federal credit union headquartered in LYNN, MA with 1 branch location and about $18.89 million in total assets. Opened 89 years ago in 1935, LYNN FIREMENS FEDERAL CREDIT UNION has about 1,519 members and employs 8 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | LYNN FIREMENS FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 30 Boston St Ste 9 LYNN, MA 01904 |
| Phone: | (781) 593-8354 |
| Fax: | (781) 592-6590 |
| Website: | https://www.lynnffcu.com |
| Branches: | 1 branch locations |
| Members: | 1,519 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 484 |
|---|---|
| Membership Type: | Federal, State, Local Government |
| Corporate Credit Union: | No |
| Year Opened: | 1935 |
| Last Audited: | Mar 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $18,888,916 |
| CEO/Manager: | Patrick J Crowley |
| Chairperson: | Charles J Gheringhelli |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 3,435,468 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 5,832,445 |
| Unsecured Loans | 767,260 |
| Other Loans | 4,835,565 |
| TOTAL LOANS | 11,435,270 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -31,759 |
| Land And Building | 0 |
| Other Fixed Assets | 0 |
| NCUSIF Deposit | 144,075 |
| All Other Assets | 0 |
| TOTAL ASSETS | 18,888,916 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 12,661 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 2,124,067 |
| Regular shares | 11,629,503 |
| All Other Shares & Deposits | 2,070,905 |
| TOTAL SHARES & DEPOSITS | 15,824,475 |
| TOTAL LIABILITIES | 15,837,136 |
| Regular Reserve | 0 |
| Other Reserves | 675,227 |
| Undivided Earnings | 2,376,553 |
| TOTAL EQUITY | 3,051,780 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 18,888,916 |
| INCOME & EXPENSE | |
| Loan Income | 482,321 |
| Investment Income | 274,285 |
| Other Income | 3,726 |
| Total Employee Compensation & Benefits | 119,784 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 210,046 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 9,000 |
| Cost of Funds | 33,477 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 439,916 |
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