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CREDIT UNION OF THE BERKSHIRES

Dec, 31, 2023 — CREDIT UNION OF THE BERKSHIRES is a federally insured state chartered credit union headquartered in Pittsfield, MA with 1 branch location and about $20.40 million in total assets. Opened 85 years ago in 1939, CREDIT UNION OF THE BERKSHIRES has about 1,565 members and employs 4 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:CREDIT UNION OF THE BERKSHIRES
Address:
(Main Office)
744 Williams St
Pittsfield, MA 01201-7402
Phone:(413) 443-1313
Fax:(413) 442-1124
Website:https://www.cuotb.org
Branches:1 branch locations
Members:1,565
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:67758
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1939
Last Audited:Jun 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$20,398,936
CEO/Manager:Melissa M Morin
Chairperson:Beth Wallace

Call Report

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 4,018,464
TOTAL INVESTMENTS 10,845,000
Loans Held for Sale 0
 
 Real Estate Loans 623,486
 Unsecured Loans 430,063
 Other Loans 4,236,151
 TOTAL LOANS 5,289,700
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -158,478
 Land And Building 147,538
 Other Fixed Assets 11,199
 NCUSIF Deposit 198,049
 All Other Assets 47,464
  TOTAL ASSETS 20,398,936
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 22,837
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 2,682,782
 Regular shares 4,646,899
 All Other Shares & Deposits 10,757,998
  TOTAL SHARES & DEPOSITS 18,087,679
  TOTAL LIABILITIES 18,110,516
 Regular Reserve 501,997
 Other Reserves 0
 Undivided Earnings 1,786,423
  TOTAL EQUITY 2,288,420
  TOTAL LIABILITIES, SHARES, & EQUITY 20,398,936
INCOME & EXPENSE  
 Loan Income 224,466
 Investment Income 107,242
 Other Income 15,442
 Total Employee Compensation & Benefits 214,531
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 301,374
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 12,501
 Cost of Funds 63,811
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -211,091
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