Sep, 30, 2025 — SOUTHERN MASS CREDIT UNION is a federally insured state chartered credit union headquartered in FAIRHAVEN, MA with 4 branch locations and about $303.79 million in total assets. Opened 104 years ago in 1922, SOUTHERN MASS CREDIT UNION has about 12,019 members and employs 47 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | SOUTHERN MASS CREDIT UNION |
|---|---|
| Address: (Main Office) | 123 Alden Rd FAIRHAVEN, MA 02719 |
| Phone: | (508) 994-9971 |
| Fax: | (508) 999-0909 |
| Website: | https://www.alltrustcu.org |
| Branches: | 4 branch locations |
| Members: | 12,019 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 67481 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1922 |
| Last Audited: | Dec 01, 2024 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $303,791,667 |
| CEO/Manager: | Carmen F Sylvester |
| Chairperson: | Kristen Sniezek |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 44,666,767 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 486,000 |
| Real Estate Loans | 220,778,863 |
| Unsecured Loans | 5,300,349 |
| Other Loans | 3,883,170 |
| TOTAL LOANS | 230,084,438 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -3,783,925 |
| Land And Building | 6,303,701 |
| Other Fixed Assets | 1,491,556 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 2,235,878 |
| All Other Assets | 0 |
| TOTAL ASSETS | 303,791,667 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 29,000,000 |
| Accounts Payable & Other Liabilities | 1,573,838 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 40,145,962 |
| Regular shares | 75,695,120 |
| All Other Shares & Deposits | 130,889,830 |
| TOTAL SHARES & DEPOSITS | 246,730,912 |
| TOTAL LIABILITIES | 277,312,176 |
| Regular Reserve | 0 |
| Other Reserves | 1,856,411 |
| Undivided Earnings | 24,623,080 |
| TOTAL EQUITY | 26,479,491 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 303,791,667 |
| INCOME & EXPENSE | |
| Loan Income | 7,330,729 |
| Investment Income | 1,767,389 |
| Other Income | 672,291 |
| Total Employee Compensation & Benefits | 3,405,837 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 3,100,790 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 2,387,785 |
| Cost of Funds | 4,826,840 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -3,281,488 |
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