Dec, 31, 2023 — WORCESTER CREDIT UNION is a federally insured state chartered credit union headquartered in WORCESTER, MA with 2 branch locations and about $99.15 million in total assets. Opened 48 years ago in 1976, WORCESTER CREDIT UNION has about 7,937 members and employs 16 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | WORCESTER CREDIT UNION |
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Address: (Main Office) | 520 W Boylston St WORCESTER, MA 01606-2026 |
Phone: | (508) 853-9966 |
Fax: | (508) 853-7524 |
Website: | https://www.worcestercu.com |
Branches: | 2 branch locations |
Members: | 7,937 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 64144 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1976 |
Last Audited: | Jun 01, 2023 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $99,154,827 |
CEO/Manager: | Lisa A Perrin |
Chairperson: | Robert Hennigan |
ASSETS: | $ Amount |
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Cash & Equivalents | 9,460,117 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 47,819,641 |
Unsecured Loans | 5,280,682 |
Other Loans | 6,544,504 |
TOTAL LOANS | 59,644,826 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -277,771 |
Land And Building | 607,202 |
Other Fixed Assets | 246,806 |
NCUSIF Deposit | 925,771 |
All Other Assets | 0 |
TOTAL ASSETS | 99,154,827 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 240,188 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 810,668 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 18,135,948 |
Regular shares | 47,537,324 |
All Other Shares & Deposits | 24,449,386 |
TOTAL SHARES & DEPOSITS | 90,122,658 |
TOTAL LIABILITIES | 91,173,514 |
Regular Reserve | 0 |
Other Reserves | -2,525,540 |
Undivided Earnings | 10,506,853 |
TOTAL EQUITY | 7,981,313 |
TOTAL LIABILITIES, SHARES, & EQUITY | 99,154,827 |
INCOME & EXPENSE | |
Loan Income | 2,765,961 |
Investment Income | 1,096,157 |
Other Income | 384,916 |
Total Employee Compensation & Benefits | 1,296,040 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 2,148,890 |
Non-operating Income & (Expense) | 62,462 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 135,930 |
Cost of Funds | 378,280 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 758,865 |
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