Sep, 30, 2025 — CHELSEA EMPLOYEES FEDERAL CREDIT UNION is a federal credit union headquartered in CHELSEA, MA with 1 branch location and about $20.78 million in total assets. Opened 91 years ago in 1935, CHELSEA EMPLOYEES FEDERAL CREDIT UNION has about 2,151 members and employs 5 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | CHELSEA EMPLOYEES FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 311 Chestnut St CHELSEA, MA 02150 |
| Phone: | (617) 884-3599 |
| Fax: | (617) 889-6740 |
| Website: | https://www.chelseaefcu.org |
| Branches: | 1 branch locations |
| Members: | 2,151 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 851 |
|---|---|
| Membership Type: | Multiple common bond - Primarily federal, state, local government |
| Corporate Credit Union: | No |
| Year Opened: | 1935 |
| Last Audited: | Dec 01, 2024 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $20,784,130 |
| CEO/Manager: | Bruce S Black |
| Chairperson: | Patrice Montefusco |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,460,200 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 4,879,409 |
| Unsecured Loans | 1,372,094 |
| Other Loans | 8,824,115 |
| TOTAL LOANS | 15,075,618 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -26,790 |
| Land And Building | 0 |
| Other Fixed Assets | 626,491 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 176,352 |
| All Other Assets | 0 |
| TOTAL ASSETS | 20,784,130 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 250,000 |
| Accounts Payable & Other Liabilities | 120,621 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 3,209,288 |
| Regular shares | 14,705,830 |
| All Other Shares & Deposits | 722,891 |
| TOTAL SHARES & DEPOSITS | 18,638,010 |
| TOTAL LIABILITIES | 19,008,631 |
| Regular Reserve | 0 |
| Other Reserves | 204,596 |
| Undivided Earnings | 1,570,903 |
| TOTAL EQUITY | 1,775,499 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 20,784,130 |
| INCOME & EXPENSE | |
| Loan Income | 717,512 |
| Investment Income | 49,834 |
| Other Income | 19,119 |
| Total Employee Compensation & Benefits | 336,193 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 243,795 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 4,899 |
| Cost of Funds | 111,658 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 108,759 |
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