Dec, 31, 2023 — MEMBERS PLUS CREDIT UNION is a federally insured state chartered credit union headquartered in MEDFORD, MA with 7 branch locations and about $364.71 million in total assets. Opened 84 years ago in 1940, MEMBERS PLUS CREDIT UNION has about 13,708 members and employs 57 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | MEMBERS PLUS CREDIT UNION |
|---|---|
| Address: (Main Office) | 29 High St MEDFORD, MA 02155-3801 |
| Phone: | (781) 905-1500 |
| Fax: | (781) 306-0681 |
| Website: | https://memberspluscu.org |
| Branches: | 7 branch locations |
| Members: | 13,708 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 66706 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1940 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $364,706,131 |
| CEO/Manager: | John J Murphy |
| Chairperson: | Craig Pinkham |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 11,710,177 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 151,907,049 |
| Unsecured Loans | 13,109,804 |
| Other Loans | 27,555,093 |
| TOTAL LOANS | 192,571,947 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -477,869 |
| Land And Building | 6,481,674 |
| Other Fixed Assets | 970,549 |
| NCUSIF Deposit | 2,449,224 |
| All Other Assets | 0 |
| TOTAL ASSETS | 364,706,131 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 821 |
| Notes & Interest Payable | 85,800,000 |
| Accounts Payable & Other Liabilities | 7,499,414 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 47,769,686 |
| Regular shares | 95,731,373 |
| All Other Shares & Deposits | 111,085,601 |
| TOTAL SHARES & DEPOSITS | 254,586,660 |
| TOTAL LIABILITIES | 347,886,895 |
| Regular Reserve | 0 |
| Other Reserves | -12,205,133 |
| Undivided Earnings | 29,024,369 |
| TOTAL EQUITY | 16,819,236 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 364,706,131 |
| INCOME & EXPENSE | |
| Loan Income | 8,789,916 |
| Investment Income | 3,713,133 |
| Other Income | 983,325 |
| Total Employee Compensation & Benefits | 4,705,372 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 5,170,208 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 250,000 |
| Cost of Funds | 5,543,446 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -1,243,697 |
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