Dec, 31, 2023 — ALDEN CREDIT UNION is a federally insured state chartered credit union headquartered in CHICOPEE, MA with 2 branch locations and about $200.41 million in total assets. Opened 85 years ago in 1939, ALDEN CREDIT UNION has about 13,852 members and employs 23 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | ALDEN CREDIT UNION |
|---|---|
| Address: (Main Office) | 710 Grattan St CHICOPEE, MA 01020-1255 |
| Phone: | (413) 536-0475 |
| Fax: | (413) 536-0986 |
| Website: | https://www.aldencu.com |
| Branches: | 2 branch locations |
| Members: | 13,852 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 67951 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1939 |
| Last Audited: | Jun 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $200,407,801 |
| CEO/Manager: | Adam Corcoran |
| Chairperson: | Marc Dugre |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 11,976,523 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 118,561,947 |
| Unsecured Loans | 494,741 |
| Other Loans | 27,401,048 |
| TOTAL LOANS | 146,457,737 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -814,315 |
| Land And Building | 8,709,415 |
| Other Fixed Assets | 467,855 |
| NCUSIF Deposit | 1,421,213 |
| All Other Assets | 0 |
| TOTAL ASSETS | 200,407,801 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 14,099 |
| Notes & Interest Payable | 26,000,000 |
| Accounts Payable & Other Liabilities | 3,044,399 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 36,524,719 |
| Regular shares | 42,486,882 |
| All Other Shares & Deposits | 81,021,945 |
| TOTAL SHARES & DEPOSITS | 160,033,546 |
| TOTAL LIABILITIES | 189,092,044 |
| Regular Reserve | 0 |
| Other Reserves | -4,892,384 |
| Undivided Earnings | 16,208,141 |
| TOTAL EQUITY | 11,315,757 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 200,407,801 |
| INCOME & EXPENSE | |
| Loan Income | 5,598,554 |
| Investment Income | 814,843 |
| Other Income | 1,339,803 |
| Total Employee Compensation & Benefits | 1,974,763 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 2,621,626 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 50,000 |
| Cost of Funds | 3,222,488 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 395,442 |
| ↑ Back to Top | |