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LYNN MUNICIPAL EMPLOYEES CREDIT UNION

Mar, 31, 2021 — LYNN MUNICIPAL EMPLOYEES CREDIT UNION is a federally insured state chartered credit union headquartered in LYNN, MA with 1 branch location and about $3.03 million in total assets. Opened 80 years ago in 1941, LYNN MUNICIPAL EMPLOYEES CREDIT UNION has about 438 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:LYNN MUNICIPAL EMPLOYEES CREDIT UNION
Address:
(Main Office)
3 CITY HALL SQUARE, ROOM 104
LYNN, MA 01901
Phone:(781) 586-6761
Fax:(781) 477-0978
Website:n/a
Branches:1 branch locations
Members:438
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:67908
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1941
Last Audited:Nov 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$3,033,244
CEO/Manager:Natalie Baker
Chairperson:Paul Gaudet

Call Report

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 1,657,328
TOTAL INVESTMENTS 501,436
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 796,606
 Other Loans 66,640
 TOTAL LOANS 863,246
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -12,239
 Land And Building 0
 Other Fixed Assets 4
 NCUSIF Deposit 19,992
 All Other Assets 3,477
  TOTAL ASSETS 3,033,244
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 9,522
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 0
 Regular shares 2,374,551
 All Other Shares & Deposits 0
  TOTAL SHARES & DEPOSITS 2,374,551
  TOTAL LIABILITIES 2,384,073
 Regular Reserve 38,755
 Other Reserves 0
 Undivided Earnings 610,416
  TOTAL EQUITY 649,171
  TOTAL LIABILITIES, SHARES, & EQUITY 3,033,244
INCOME & EXPENSE  
 Loan Income 23,070
 Investment Income 1,022
 Other Income 0
 Total Employee Compensation & Benefits 13,433
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 10,509
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense -1,544
 Cost of Funds 1,126
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 568
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