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SOMERVILLE MASS FIREFIGHTERS FEDERAL CREDIT UNION

Dec, 31, 2023 — SOMERVILLE MASS FIREFIGHTERS FEDERAL CREDIT UNION is a federal credit union headquartered in SOMERVILLE, MA with 1 branch location and about $7.76 million in total assets. Opened 88 years ago in 1936, SOMERVILLE MASS FIREFIGHTERS FEDERAL CREDIT UNION has about 278 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:278
Credit Union Type:Federal Credit Union
Charter Number:943
Membership Type:Federal, State, Local Government
Corporate Credit Union:No
Year Opened:1936
Last Audited:Nov 01, 2023
FHLB Member:No
Low Income Designation:No
Assets:$7,758,697
CEO/Manager:kenneth m layton
Chairperson:john byrne

Call Report

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 224,659
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 983,029
 Unsecured Loans 560,322
 Other Loans 1,443,442
 TOTAL LOANS 2,986,793
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -25,000
 Land And Building 0
 Other Fixed Assets 0
 NCUSIF Deposit 71,672
 All Other Assets 0
  TOTAL ASSETS 7,758,697
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 7,763
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 0
 Regular shares 6,441,673
 All Other Shares & Deposits 0
  TOTAL SHARES & DEPOSITS 6,441,673
  TOTAL LIABILITIES 6,449,436
 Regular Reserve 0
 Other Reserves 129,759
 Undivided Earnings 1,179,502
  TOTAL EQUITY 1,309,261
  TOTAL LIABILITIES, SHARES, & EQUITY 7,758,697
INCOME & EXPENSE  
 Loan Income 113,553
 Investment Income 143,363
 Other Income 0
 Total Employee Compensation & Benefits 99,317
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 24,345
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 109,038
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 24,216
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