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CRANSTON MUNICIPAL EMPLOYEES CREDIT UNION

Mar, 31, 2021 — CRANSTON MUNICIPAL EMPLOYEES CREDIT UNION is a federally insured state chartered credit union headquartered in CRANSTON, RI with 1 branch location and about $67.18 million in total assets. Opened 75 years ago in 1946, CRANSTON MUNICIPAL EMPLOYEES CREDIT UNION has about 2,876 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:CRANSTON MUNICIPAL EMPLOYEES CREDIT UNION
Address:
(Main Office)
1615 PONTIAC AVE
CRANSTON, RI 02920
Phone:(401) 463-3010
Fax:(401) 463-3319
Website:http://www.cranstonmecu.org
Branches:1 branch locations
Members:2,876
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:60780
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1946
Last Audited:Dec 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$67,175,711
CEO/Manager:Brian W Ducharme
Chairperson:Stephen P Hogan

Call Report

  • Real Estate Loans
  • Risk Based Loans
  • ATM/Debit Card Program
  • Commercial Share Accounts
  • Check Cashing
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 16,687,959
TOTAL INVESTMENTS 37,533,605
Loans Held for Sale 0
 
 Real Estate Loans 5,762,814
 Unsecured Loans 1,454,782
 Other Loans 5,040,412
 TOTAL LOANS 12,258,008
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -42,366
 Land And Building 114,829
 Other Fixed Assets 18,998
 NCUSIF Deposit 492,637
 All Other Assets 112,041
  TOTAL ASSETS 67,175,711
LIABILITIES & CAPITAL:  
 Dividends Payable 1,533
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 120,558
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 5,264,994
 Regular shares 20,417,631
 All Other Shares & Deposits 26,491,582
  TOTAL SHARES & DEPOSITS 52,174,207
  TOTAL LIABILITIES 52,296,298
 Regular Reserve 2,737,602
 Other Reserves 1,832,011
 Undivided Earnings 10,309,800
  TOTAL EQUITY 14,879,413
  TOTAL LIABILITIES, SHARES, & EQUITY 67,175,711
INCOME & EXPENSE  
 Loan Income 147,295
 Investment Income 101,881
 Other Income 8,571
 Total Employee Compensation & Benefits 164,909
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 136,416
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 63,197
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 599,771
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