Jun, 30, 2024 — CRANSTON MUNICIPAL EMPLOYEES CREDIT UNION is a federally insured state chartered credit union headquartered in CRANSTON, RI with 1 branch location and about $68.45 million in total assets. Opened 79 years ago in 1946, CRANSTON MUNICIPAL EMPLOYEES CREDIT UNION has about 2,968 members and employs 10 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | CRANSTON MUNICIPAL EMPLOYEES CREDIT UNION |
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Address: (Main Office) | 1615 Pontiac Ave CRANSTON, RI 02920 |
Phone: | (401) 463-3010 |
Fax: | (401) 463-3319 |
Website: | https://www.cranstonmecu.org |
Branches: | 1 branch locations |
Members: | 2,968 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 60780 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1946 |
Last Audited: | Dec 01, 2021 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $68,448,231 |
CEO/Manager: | Brian W Ducharme |
Chairperson: | Stephen P Hogan |
ASSETS: | $ Amount |
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Cash & Equivalents | 1,930,264 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 17,567,482 |
Unsecured Loans | 2,385,376 |
Other Loans | 11,605,703 |
TOTAL LOANS | 31,558,561 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -64,571 |
Land And Building | 148,932 |
Other Fixed Assets | 32,793 |
NCUSIF Deposit | 534,785 |
All Other Assets | 0 |
TOTAL ASSETS | 68,448,231 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 750 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 194,280 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 5,484,222 |
Regular shares | 22,586,807 |
All Other Shares & Deposits | 29,191,038 |
TOTAL SHARES & DEPOSITS | 57,262,067 |
TOTAL LIABILITIES | 57,457,097 |
Regular Reserve | 0 |
Other Reserves | 374,040 |
Undivided Earnings | 10,617,094 |
TOTAL EQUITY | 10,991,134 |
TOTAL LIABILITIES, SHARES, & EQUITY | 68,448,231 |
INCOME & EXPENSE | |
Loan Income | 662,275 |
Investment Income | 560,057 |
Other Income | 23,038 |
Total Employee Compensation & Benefits | 750,390 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 522,877 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
Cost of Funds | 146,190 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | -1,675,700 |
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