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ALPHA CREDIT UNION

Dec, 31, 2023 — ALPHA CREDIT UNION is a federally insured state chartered credit union headquartered in BOSTON, MA with 2 branch locations and about $36.82 million in total assets. Opened 82 years ago in 1942, ALPHA CREDIT UNION has about 4,091 members and employs 6 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:ALPHA CREDIT UNION
Address:
(Main Office)
1 Deaconess Rd
BOSTON, MA 02215
Phone:(617) 632-8164
Fax:(617) 632-8204
Website:https://www.alphacu.com
Branches:2 branch locations
Members:4,091
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:67872
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1942
Last Audited:Dec 01, 2022
FHLB Member:No
Low Income Designation:No
Assets:$36,821,434
CEO/Manager:Joette DeMeo
Chairperson:Kristine M Hanscom

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 1,096,692
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 7,386,753
 Unsecured Loans 2,569,400
 Other Loans 8,750,583
 TOTAL LOANS 18,706,737
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -106,343
 Land And Building 0
 Other Fixed Assets 63,818
 NCUSIF Deposit 332,844
 All Other Assets 0
  TOTAL ASSETS 36,821,434
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 146,499
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 1,953,414
 Regular shares 27,057,424
 All Other Shares & Deposits 2,472,407
  TOTAL SHARES & DEPOSITS 31,483,246
  TOTAL LIABILITIES 31,629,745
 Regular Reserve 0
 Other Reserves 505,000
 Undivided Earnings 4,686,689
  TOTAL EQUITY 5,191,689
  TOTAL LIABILITIES, SHARES, & EQUITY 36,821,434
INCOME & EXPENSE  
 Loan Income 790,146
 Investment Income 495,262
 Other Income 187,783
 Total Employee Compensation & Benefits 544,234
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 456,739
 Non-operating Income & (Expense) 71,183
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 98,959
 Cost of Funds 30,261
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 414,181
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