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SOUTHBRIDGE CREDIT UNION

Jun, 30, 2021 — SOUTHBRIDGE CREDIT UNION is a federally insured state chartered credit union headquartered in Southbridge, MA with 4 branch locations and about $203.60 million in total assets. Opened 83 years ago in 1938, SOUTHBRIDGE CREDIT UNION has about 13,036 members and employs 42 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:SOUTHBRIDGE CREDIT UNION
Address:
(Main Office)
155 Main St
Southbridge, MA 01550
Phone:(508) 764-1773
Fax:(508) 764-1777
Website:https://www.southbridgecu.com
Branches:4 branch locations
Members:13,036
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:66374
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1938
Last Audited:Dec 01, 2020
FHLB Member:Yes
Low Income Designation:No
Assets:$203,603,926
CEO/Manager:Katherine R Roy
Chairperson:John A Lafleche

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Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 18,557,568
TOTAL INVESTMENTS 24,776,311
Loans Held for Sale 0
 
 Real Estate Loans 121,057,104
 Unsecured Loans 12,286,123
 Other Loans 16,812,317
 TOTAL LOANS 150,292,734
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -750,346
 Land And Building 4,406,684
 Other Fixed Assets 973,832
 NCUSIF Deposit 1,582,150
 All Other Assets 3,764,993
  TOTAL ASSETS 203,603,926
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 5,921,871
 Accounts Payable & Other Liabilities 10,886
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 46,137,904
 Regular shares 75,275,436
 All Other Shares & Deposits 53,515,112
  TOTAL SHARES & DEPOSITS 174,928,452
  TOTAL LIABILITIES 180,861,209
 Regular Reserve 4,085,368
 Other Reserves 54,928
 Undivided Earnings 18,602,421
  TOTAL EQUITY 22,742,717
  TOTAL LIABILITIES, SHARES, & EQUITY 203,603,926
INCOME & EXPENSE  
 Loan Income 3,133,516
 Investment Income 44,257
 Other Income 550,490
 Total Employee Compensation & Benefits 1,533,296
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 2,022,165
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 46,892
 Cost of Funds 346,178
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 163,342
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