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National Credit Union Service Organization

SOUTHERN MASS CREDIT UNION

Dec, 31, 2023 — SOUTHERN MASS CREDIT UNION is a federally insured state chartered credit union headquartered in FAIRHAVEN, MA with 4 branch locations and about $326.58 million in total assets. Opened 102 years ago in 1922, SOUTHERN MASS CREDIT UNION has about 12,951 members and employs 50 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 211384706
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:12,951
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, 2022
FHLB Member:Yes
Low Income Designation:No
Assets:$326,579,067
CEO/Manager:Carmen F Sylvester
Chairperson:Mark Sylvia

Call Report

  • First Time Homebuyer Program
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 17,278,543
TOTAL INVESTMENTS 0
Loans Held for Sale 285,000
 
 Real Estate Loans 269,073,444
 Unsecured Loans 7,358,856
 Other Loans 4,633,394
 TOTAL LOANS 281,211,517
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -1,392,682
 Land And Building 6,793,613
 Other Fixed Assets 2,093,419
 NCUSIF Deposit 2,462,621
 All Other Assets 0
  TOTAL ASSETS 326,579,067
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 53,500,000
 Accounts Payable & Other Liabilities 2,105,113
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 39,354,677
 Regular shares 81,471,254
 All Other Shares & Deposits 120,236,355
  TOTAL SHARES & DEPOSITS 241,062,287
  TOTAL LIABILITIES 296,677,449
 Regular Reserve 0
 Other Reserves 1,849,051
 Undivided Earnings 28,052,567
  TOTAL EQUITY 29,901,618
  TOTAL LIABILITIES, SHARES, & EQUITY 326,579,067
INCOME & EXPENSE  
 Loan Income 11,921,857
 Investment Income 1,020,605
 Other Income 1,665,603
 Total Employee Compensation & Benefits 5,117,583
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 4,149,279
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 875,565
 Cost of Funds 4,786,905
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 100,981
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