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CRANSTON MUNICIPAL EMPLOYEES CREDIT UNION

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
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
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

Call Report

  • First Time Homebuyer Program
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
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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