Sep, 30, 2025 — NEW BEDFORD CREDIT UNION is a federally insured state chartered credit union headquartered in NEW BEDFORD, MA with 2 branch locations and about $166.44 million in total assets. Opened 94 years ago in 1932, NEW BEDFORD CREDIT UNION has about 10,692 members and employs 44 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | NEW BEDFORD CREDIT UNION |
|---|---|
| Address: (Main Office) | 1150 Purchase St NEW BEDFORD, MA 02740-6635 |
| Phone: | (508) 994-6546 |
| Fax: | (508) 990-7472 |
| Website: | https://www.nbcu4u.com |
| Branches: | 2 branch locations |
| Members: | 10,692 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 66733 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1932 |
| Last Audited: | May 01, 2025 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $166,437,666 |
| CEO/Manager: | Berta Varao |
| Chairperson: | Peter E Berthiaume |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 10,095,941 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 82,990,802 |
| Unsecured Loans | 8,697,116 |
| Other Loans | 22,059,327 |
| TOTAL LOANS | 113,747,244 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -218,863 |
| Land And Building | 402,702 |
| Other Fixed Assets | 198,075 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 1,428,020 |
| All Other Assets | 12,153 |
| TOTAL ASSETS | 166,437,666 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 545,135 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 25,202,469 |
| Regular shares | 71,810,043 |
| All Other Shares & Deposits | 51,203,497 |
| TOTAL SHARES & DEPOSITS | 148,216,008 |
| TOTAL LIABILITIES | 148,761,143 |
| Regular Reserve | 0 |
| Other Reserves | 1,514,182 |
| Undivided Earnings | 16,162,341 |
| TOTAL EQUITY | 17,676,523 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 166,437,666 |
| INCOME & EXPENSE | |
| Loan Income | 4,471,784 |
| Investment Income | 1,436,881 |
| Other Income | 866,866 |
| Total Employee Compensation & Benefits | 2,202,498 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 2,371,606 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 70,000 |
| Cost of Funds | 1,188,613 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 942,814 |
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