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LYNN FIREMENS FEDERAL CREDIT UNION

Mar, 31, 2021 — LYNN FIREMENS FEDERAL CREDIT UNION is a federal credit union headquartered in LYNN, MA with 1 branch location and about $15.63 million in total assets. Opened 86 years ago in 1935, LYNN FIREMENS FEDERAL CREDIT UNION has about 1,464 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:http://www.lynnffcu.com
Branches:1 branch locations
Members:1,464
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, 2020
FHLB Member:No
Low Income Designation:No
Assets:$15,633,279
CEO/Manager:Patrick J Crowley
Chairperson:Michael K O'Connor

Call Report

  • Overdraft Lines of Credit
  • Real Estate Loans
  • Risk Based Loans
  • Share Secured Credit Cards
  • ATM/Debit Card Program
  • Check Cashing
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 7,595,587
TOTAL INVESTMENTS 1,389,984
Loans Held for Sale 0
 
 Real Estate Loans 3,199,116
 Unsecured Loans 740,614
 Other Loans 2,621,294
 TOTAL LOANS 6,561,024
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -54,299
 Land And Building 0
 Other Fixed Assets 1,275
 NCUSIF Deposit 96,327
 All Other Assets 43,381
  TOTAL ASSETS 15,633,279
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 32,797
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 2,050,867
 Regular shares 9,629,188
 All Other Shares & Deposits 1,460,528
  TOTAL SHARES & DEPOSITS 13,140,583
  TOTAL LIABILITIES 13,173,380
 Regular Reserve 675,227
 Other Reserves 0
 Undivided Earnings 1,784,672
  TOTAL EQUITY 2,459,899
  TOTAL LIABILITIES, SHARES, & EQUITY 15,633,279
INCOME & EXPENSE  
 Loan Income 61,123
 Investment Income 8,493
 Other Income 1,912
 Total Employee Compensation & Benefits 30,869
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 44,400
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 4,601
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -1,490
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