Dec, 31, 2023 — LOWELL FIREFIGHTERS CREDIT UNION is a federally insured state chartered credit union headquartered in LOWELL, MA with 1 branch location and about $27.13 million in total assets. Opened 88 years ago in 1936, LOWELL FIREFIGHTERS CREDIT UNION has about 1,793 members and employs 6 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | LOWELL FIREFIGHTERS CREDIT UNION |
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Address: (Main Office) | 642 Chelmsford St LOWELL, MA 01851 |
Phone: | (978) 453-2734 |
Fax: | (978) 453-5120 |
Website: | https://www.lffcu.com |
Branches: | 1 branch locations |
Members: | 1,793 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 67767 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1936 |
Last Audited: | Sep 01, 2022 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $27,126,254 |
CEO/Manager: | Michael M Boldrighini |
Chairperson: | Timothy Bugler |
ASSETS: | $ Amount |
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Cash & Equivalents | 1,880,661 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 7,038,187 |
Unsecured Loans | 1,521,141 |
Other Loans | 8,644,422 |
TOTAL LOANS | 17,203,749 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -65,333 |
Land And Building | 119,000 |
Other Fixed Assets | 302,364 |
NCUSIF Deposit | 225,642 |
All Other Assets | 0 |
TOTAL ASSETS | 27,126,254 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 135,087 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 2,572,313 |
Regular shares | 13,214,416 |
All Other Shares & Deposits | 7,776,415 |
TOTAL SHARES & DEPOSITS | 23,563,145 |
TOTAL LIABILITIES | 23,698,232 |
Regular Reserve | 0 |
Other Reserves | 303,000 |
Undivided Earnings | 3,125,022 |
TOTAL EQUITY | 3,428,022 |
TOTAL LIABILITIES, SHARES, & EQUITY | 27,126,254 |
INCOME & EXPENSE | |
Loan Income | 693,643 |
Investment Income | 284,117 |
Other Income | 78,367 |
Total Employee Compensation & Benefits | 342,550 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 443,688 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 25,000 |
Cost of Funds | 222,665 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 69,292 |
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» See also Statement of Financial Condition