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National Credit Union Service Organization

WORCESTER CREDIT UNION

Jun, 30, 2021 — WORCESTER CREDIT UNION is a federally insured state chartered credit union headquartered in WORCESTER, MA with 2 branch locations and about $110.89 million in total assets. Opened 45 years ago in 1976, WORCESTER CREDIT UNION has about 6,905 members and employs 17 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 211387143
Name:WORCESTER CREDIT UNION
Address:
(Main Office)
520 W BOYLSTON ST
WORCESTER, MA 01606-2026
Phone:(508) 853-9966
Fax:(508) 853-7524
Website:http://www.worcestercu.com
Branches:2 branch locations
Members:6,905
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:64144
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1976
Last Audited:Jun 01, 2020
FHLB Member:Yes
Low Income Designation:No
Assets:$110,889,943
CEO/Manager:Lisa A Perrin
Chairperson:Robert Hennigan

Call Report

  • First Time Homebuyer Program
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 23,992,367
TOTAL INVESTMENTS 25,286,780
Loans Held for Sale 0
 
 Real Estate Loans 40,419,637
 Unsecured Loans 6,987,460
 Other Loans 8,048,035
 TOTAL LOANS 55,455,132
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -267,249
 Land And Building 745,121
 Other Fixed Assets 192,710
 NCUSIF Deposit 949,187
 All Other Assets 4,535,895
  TOTAL ASSETS 110,889,943
LIABILITIES & CAPITAL:  
 Dividends Payable 101,186
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 22,975
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 17,129,765
 Regular shares 52,778,705
 All Other Shares & Deposits 31,906,734
  TOTAL SHARES & DEPOSITS 101,815,204
  TOTAL LIABILITIES 101,939,365
 Regular Reserve 3,000,000
 Other Reserves -55,067
 Undivided Earnings 6,005,645
  TOTAL EQUITY 8,950,578
  TOTAL LIABILITIES, SHARES, & EQUITY 110,889,943
INCOME & EXPENSE  
 Loan Income 1,067,477
 Investment Income 107,875
 Other Income 305,693
 Total Employee Compensation & Benefits 615,784
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 859,386
 Non-operating Income & (Expense) 359,231
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense -68,170
 Cost of Funds 170,567
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 284,600
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