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TAUNTON FEDERAL CREDIT UNION

Dec, 31, 2023 — TAUNTON FEDERAL CREDIT UNION is a federal credit union headquartered in TAUNTON, MA with 7 branch locations and about $351.03 million in total assets. Opened 77 years ago in 1947, TAUNTON FEDERAL CREDIT UNION has about 18,466 members and employs 73 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:TAUNTON FEDERAL CREDIT UNION
Address:
(Main Office)
14 Church Grn
TAUNTON, MA 02780
Phone:(508) 824-6466
Fax:
Website:https://www.tauntonfcu.com
Branches:7 branch locations
Members:18,466
Credit Union Type:Federal Credit Union
Charter Number:5602
Membership Type:Community credit unions, urban or rural, other than those designated 'low income'
Corporate Credit Union:No
Year Opened:1947
Last Audited:Dec 01, 2022
FHLB Member:Yes
Low Income Designation:No
Assets:$351,025,977
CEO/Manager:Nelson Tavares
Chairperson:Russell Bradshaw

Call Report

  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 27,403,267
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 194,150,148
 Unsecured Loans 2,035,979
 Other Loans 65,941,208
 TOTAL LOANS 262,127,335
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -1,700,596
 Land And Building 7,091,630
 Other Fixed Assets 1,909,787
 NCUSIF Deposit 2,814,698
 All Other Assets 18,177
  TOTAL ASSETS 351,025,977
LIABILITIES & CAPITAL:  
 Dividends Payable 468
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 2,932,017
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 53,433,623
 Regular shares 109,421,231
 All Other Shares & Deposits 143,952,420
  TOTAL SHARES & DEPOSITS 306,807,274
  TOTAL LIABILITIES 309,890,008
 Regular Reserve 0
 Other Reserves 14,296,990
 Undivided Earnings 26,838,979
  TOTAL EQUITY 41,135,969
  TOTAL LIABILITIES, SHARES, & EQUITY 351,025,977
INCOME & EXPENSE  
 Loan Income 12,001,689
 Investment Income 2,719,158
 Other Income 1,328,735
 Total Employee Compensation & Benefits 5,654,741
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 5,365,319
 Non-operating Income & (Expense) -14,396
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense -295,025
 Cost of Funds 3,635,860
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 3,609,441
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