Dec, 31, 2023 — COMMUNITY CREDIT UNION OF LYNN is a federally insured state chartered credit union headquartered in LYNN, MA with 3 branch locations and about $157.38 million in total assets. Opened 69 years ago in 1955, COMMUNITY CREDIT UNION OF LYNN has about 3,299 members and employs 30 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | COMMUNITY CREDIT UNION OF LYNN |
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Address: (Main Office) | 1 Andrew St LYNN, MA 01901-1101 |
Phone: | (781) 598-0820 |
Fax: | (781) 593-3190 |
Website: | https://www.myccu.org |
Branches: | 3 branch locations |
Members: | 3,299 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 67558 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1955 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $157,375,837 |
CEO/Manager: | Nicholas D Sarantopoulos |
Chairperson: | Peter Katsos |
ASSETS: | $ Amount |
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Cash & Equivalents | 2,741,500 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 87,052,567 |
Unsecured Loans | 24,544,838 |
Other Loans | 4,753,803 |
TOTAL LOANS | 116,351,209 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -356,000 |
Land And Building | 2,798,198 |
Other Fixed Assets | 328,470 |
NCUSIF Deposit | 1,129,564 |
All Other Assets | 0 |
TOTAL ASSETS | 157,375,837 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 12,750,000 |
Accounts Payable & Other Liabilities | 1,472,919 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 37,820,215 |
Regular shares | 39,740,740 |
All Other Shares & Deposits | 53,326,781 |
TOTAL SHARES & DEPOSITS | 130,887,736 |
TOTAL LIABILITIES | 145,110,655 |
Regular Reserve | 0 |
Other Reserves | -89,974 |
Undivided Earnings | 12,355,156 |
TOTAL EQUITY | 12,265,182 |
TOTAL LIABILITIES, SHARES, & EQUITY | 157,375,837 |
INCOME & EXPENSE | |
Loan Income | 5,962,617 |
Investment Income | 1,149,054 |
Other Income | 947,351 |
Total Employee Compensation & Benefits | 2,714,008 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 3,784,600 |
Non-operating Income & (Expense) | 853,036 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 461,162 |
Cost of Funds | 2,106,926 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 105,577 |
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» See also Statement of Financial Condition