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SOMERVILLE MASS FIREFIGHTERS FEDERAL CREDIT UNION

Jun, 30, 2021 — SOMERVILLE MASS FIREFIGHTERS FEDERAL CREDIT UNION is a federal credit union headquartered in SOMERVILLE, MA with 1 branch location and about $8.38 million in total assets. Opened 85 years ago in 1936, SOMERVILLE MASS FIREFIGHTERS FEDERAL CREDIT UNION has about 291 members and employs 3 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:SOMERVILLE MASS FIREFIGHTERS FEDERAL CREDIT UNION
Address:
(Main Office)
266 BROADWAY
SOMERVILLE, MA 02145
Phone:(617) 625-6935
Fax:(617) 623-7385
Website:n/a
Branches:1 branch locations
Members:291
Credit Union Type:Federal Credit Union
Charter Number:943
Membership Type:Federal, State, Local Government
Corporate Credit Union:No
Year Opened:1936
Last Audited:Oct 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$8,384,322
CEO/Manager:kenneth m layton
Chairperson:john byrne

Call Report

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 2,924,527
TOTAL INVESTMENTS 3,475,492
Loans Held for Sale 0
 
 Real Estate Loans 330,740
 Unsecured Loans 447,088
 Other Loans 1,159,044
 TOTAL LOANS 1,936,872
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -25,000
 Land And Building 0
 Other Fixed Assets 8
 NCUSIF Deposit 69,188
 All Other Assets 3,235
  TOTAL ASSETS 8,384,322
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 7,708
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 0
 Regular shares 7,101,460
 All Other Shares & Deposits 0
  TOTAL SHARES & DEPOSITS 7,101,460
  TOTAL LIABILITIES 7,109,168
 Regular Reserve 129,758
 Other Reserves 0
 Undivided Earnings 1,145,396
  TOTAL EQUITY 1,275,154
  TOTAL LIABILITIES, SHARES, & EQUITY 8,384,322
INCOME & EXPENSE  
 Loan Income 42,217
 Investment Income 39,739
 Other Income 0
 Total Employee Compensation & Benefits 48,176
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 4,877
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 17,458
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 11,445
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