Dec, 31, 2023 — GRANITE STATE CREDIT UNION is a federally insured state chartered credit union headquartered in MANCHESTER, NH with 9 branch locations and about $697.04 million in total assets. Opened 79 years ago in 1945, GRANITE STATE CREDIT UNION has about 50,931 members and employs 150 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | GRANITE STATE CREDIT UNION |
|---|---|
| Address: (Main Office) | 1415 Elm St MANCHESTER, NH 03101-1325 |
| Phone: | (603) 668-2221 |
| Fax: | (603) 626-8029 |
| Website: | https://www.gscu.org |
| Branches: | 9 branch locations |
| Members: | 50,931 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 63272 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1945 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $697,041,831 |
| CEO/Manager: | Denise L Barstow |
| Chairperson: | Deborah K Vandeberghe |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 116,413,887 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 248,607,149 |
| Unsecured Loans | 47,846,158 |
| Other Loans | 187,677,449 |
| TOTAL LOANS | 484,151,697 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -3,997,654 |
| Land And Building | 24,801,196 |
| Other Fixed Assets | 4,723,551 |
| NCUSIF Deposit | 5,756,884 |
| All Other Assets | 340,164 |
| TOTAL ASSETS | 697,041,831 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 3,757,951 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 138,374,796 |
| Regular shares | 278,350,222 |
| All Other Shares & Deposits | 219,197,542 |
| TOTAL SHARES & DEPOSITS | 635,922,560 |
| TOTAL LIABILITIES | 639,730,511 |
| Regular Reserve | 0 |
| Other Reserves | -1,303,862 |
| Undivided Earnings | 58,615,182 |
| TOTAL EQUITY | 57,311,320 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 697,041,831 |
| INCOME & EXPENSE | |
| Loan Income | 28,665,957 |
| Investment Income | 3,965,180 |
| Other Income | 4,628,210 |
| Total Employee Compensation & Benefits | 15,715,169 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 14,058,695 |
| Non-operating Income & (Expense) | 1,046,456 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 2,500,000 |
| Cost of Funds | 4,637,399 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 6,506,412 |
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