Dec, 31, 2023 — ST. MICHAELS FALL RIVER FEDERAL CREDIT UNION is a federal credit union headquartered in FALL RIVER, MA with 2 branch locations and about $109.67 million in total assets. Opened 71 years ago in 1953, ST. MICHAELS FALL RIVER FEDERAL CREDIT UNION has about 3,346 members and employs 12 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | ST. MICHAELS FALL RIVER FEDERAL CREDIT UNION |
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Address: (Main Office) | 775 Davol St FALL RIVER, MA 02720-1028 |
Phone: | (508) 674-3861 |
Fax: | (508) 677-4966 |
Website: | https://www.stmichaelsfcu.com |
Branches: | 2 branch locations |
Members: | 3,346 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 8915 |
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Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
Corporate Credit Union: | No |
Year Opened: | 1953 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $109,667,415 |
CEO/Manager: | Arastou Mahjoory |
Chairperson: | Craig J Cabral |
ASSETS: | $ Amount |
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Cash & Equivalents | 7,731,782 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 84,941,753 |
Unsecured Loans | 2,202,090 |
Other Loans | 8,287,868 |
TOTAL LOANS | 95,431,711 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -120,337 |
Land And Building | 5,099,541 |
Other Fixed Assets | 121,585 |
NCUSIF Deposit | 755,832 |
All Other Assets | 0 |
TOTAL ASSETS | 109,667,415 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 146,316 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 13,038 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 9,382,405 |
Regular shares | 19,834,876 |
All Other Shares & Deposits | 70,424,064 |
TOTAL SHARES & DEPOSITS | 99,641,345 |
TOTAL LIABILITIES | 99,800,699 |
Regular Reserve | 0 |
Other Reserves | 759,087 |
Undivided Earnings | 9,107,629 |
TOTAL EQUITY | 9,866,716 |
TOTAL LIABILITIES, SHARES, & EQUITY | 109,667,415 |
INCOME & EXPENSE | |
Loan Income | 4,868,835 |
Investment Income | 341,659 |
Other Income | 98,091 |
Total Employee Compensation & Benefits | 1,897,410 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 1,114,836 |
Non-operating Income & (Expense) | 434,022 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
Cost of Funds | 1,812,968 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 917,393 |
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» See also Statement of Financial Condition