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CHELSEA EMPLOYEES FEDERAL CREDIT UNION

Mar, 31, 2021 — CHELSEA EMPLOYEES FEDERAL CREDIT UNION is a federal credit union headquartered in CHELSEA, MA with 1 branch location and about $18.79 million in total assets. Opened 86 years ago in 1935, CHELSEA EMPLOYEES FEDERAL CREDIT UNION has about 2,116 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:CHELSEA EMPLOYEES FEDERAL CREDIT UNION
Address:
(Main Office)
500 BROADWAY #205
CHELSEA, MA 02150
Phone:(617) 884-3599
Fax:(617) 889-6740
Website:http://www.chelseaefcu.org
Branches:1 branch locations
Members:2,116
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, 2020
FHLB Member:No
Low Income Designation:No
Assets:$18,788,157
CEO/Manager:Bruce S Black
Chairperson:Patrice Montefusco

Call Report

  • Micro Consumer Loans
  • Real Estate Loans
  • ATM/Debit Card Program
  • Check Cashing
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 4,157,535
TOTAL INVESTMENTS 6,580,000
Loans Held for Sale 0
 
 Real Estate Loans 1,889,859
 Unsecured Loans 534,490
 Other Loans 5,053,222
 TOTAL LOANS 7,477,571
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -21,490
 Land And Building 0
 Other Fixed Assets 13,796
 NCUSIF Deposit 156,180
 All Other Assets 424,565
  TOTAL ASSETS 18,788,157
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 41,274
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 2,650,502
 Regular shares 11,614,112
 All Other Shares & Deposits 3,135,955
  TOTAL SHARES & DEPOSITS 17,400,569
  TOTAL LIABILITIES 17,441,843
 Regular Reserve 204,596
 Other Reserves 0
 Undivided Earnings 1,141,718
  TOTAL EQUITY 1,346,314
  TOTAL LIABILITIES, SHARES, & EQUITY 18,788,157
INCOME & EXPENSE  
 Loan Income 78,915
 Investment Income 24,205
 Other Income 3,607
 Total Employee Compensation & Benefits 72,896
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 46,594
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 6,626
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -15,298
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