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.
Name: | SOUTHERN MASS CREDIT UNION |
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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 |
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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 |
ASSETS: | $ Amount |
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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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