Dec, 31, 2023 — CENTRAL ONE FEDERAL CREDIT UNION is a federal credit union headquartered in SHREWSBURY, MA with 9 branch locations and about $800.60 million in total assets. Opened 72 years ago in 1952, CENTRAL ONE FEDERAL CREDIT UNION has about 38,557 members and employs 138 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | CENTRAL ONE FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 714 Main St SHREWSBURY, MA 01545 |
| Phone: | (508) 842-7400 |
| Fax: | (508) 841-0591 |
| Website: | https://www.centralfcu.com |
| Branches: | 9 branch locations |
| Members: | 38,557 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 8218 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1952 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $800,600,325 |
| CEO/Manager: | Devon Lyon |
| Chairperson: | Anthony C Pini |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 21,393,692 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 513,887,575 |
| Unsecured Loans | 25,381,426 |
| Other Loans | 78,806,168 |
| TOTAL LOANS | 618,075,169 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -2,857,750 |
| Land And Building | 20,733,886 |
| Other Fixed Assets | 2,166,960 |
| NCUSIF Deposit | 6,172,098 |
| All Other Assets | 0 |
| TOTAL ASSETS | 800,600,325 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 65,190,427 |
| Accounts Payable & Other Liabilities | 2,142,842 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 154,162,389 |
| Regular shares | 120,993,291 |
| All Other Shares & Deposits | 390,350,830 |
| TOTAL SHARES & DEPOSITS | 665,506,511 |
| TOTAL LIABILITIES | 732,925,795 |
| Regular Reserve | 0 |
| Other Reserves | -3,245,360 |
| Undivided Earnings | 70,919,890 |
| TOTAL EQUITY | 67,674,530 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 800,600,325 |
| INCOME & EXPENSE | |
| Loan Income | 27,602,603 |
| Investment Income | 3,263,492 |
| Other Income | 2,994,660 |
| Total Employee Compensation & Benefits | 12,577,537 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 8,353,109 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 676,978 |
| Cost of Funds | 10,178,602 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 5,230,754 |
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» See also Statement of Financial Condition