Dec, 31, 2023 — ENERGY CREDIT UNION is a federally insured state chartered credit union headquartered in WEST ROXBURY, MA with 2 branch locations and about $129.59 million in total assets. Opened 93 years ago in 1931, ENERGY CREDIT UNION has about 5,966 members and employs 18 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | ENERGY CREDIT UNION |
|---|---|
| Address: (Main Office) | 156 Spring St WEST ROXBURY, MA 02132 |
| Phone: | (617) 325-1999 |
| Fax: | (617) 325-1993 |
| Website: | https://www.energycreditunion.org |
| Branches: | 2 branch locations |
| Members: | 5,966 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 66369 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1931 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $129,587,896 |
| CEO/Manager: | Irene Tan |
| Chairperson: | James Godding |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 14,587,482 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 63,024,650 |
| Unsecured Loans | 9,272,426 |
| Other Loans | 12,775,769 |
| TOTAL LOANS | 85,072,845 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -454,662 |
| Land And Building | 3,525,067 |
| Other Fixed Assets | 80,134 |
| NCUSIF Deposit | 1,033,894 |
| All Other Assets | 0 |
| TOTAL ASSETS | 129,587,896 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 9,953 |
| Notes & Interest Payable | 811,283 |
| Accounts Payable & Other Liabilities | 1,065,482 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 15,316,168 |
| Regular shares | 51,805,247 |
| All Other Shares & Deposits | 42,266,641 |
| TOTAL SHARES & DEPOSITS | 109,388,056 |
| TOTAL LIABILITIES | 111,274,774 |
| Regular Reserve | 0 |
| Other Reserves | 1,670,365 |
| Undivided Earnings | 16,642,757 |
| TOTAL EQUITY | 18,313,122 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 129,587,896 |
| INCOME & EXPENSE | |
| Loan Income | 3,990,486 |
| Investment Income | 1,284,776 |
| Other Income | 270,370 |
| Total Employee Compensation & Benefits | 1,588,789 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,679,312 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 327,202 |
| Cost of Funds | 1,285,174 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 611,196 |
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