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National Credit Union Service Organization

WORCESTER CREDIT UNION

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.


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:https://www.worcestercu.com
Branches:2 branch locations
Members:7,937
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, 2023
FHLB Member:Yes
Low Income Designation:No
Assets:$99,154,827
CEO/Manager:Lisa A Perrin
Chairperson:Robert Hennigan

Call Report

  • Credit Builder
  • First Time Homebuyer Program
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
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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