Dec, 31, 2023 — BEVERLY MUNICIPAL FEDERAL CREDIT UNION is a federal credit union headquartered in BEVERLY, MA with 1 branch location and about $16.33 million in total assets. Opened 39 years ago in 1985, BEVERLY MUNICIPAL FEDERAL CREDIT UNION has about 1,823 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: | BEVERLY MUNICIPAL FEDERAL CREDIT UNION |
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Address: (Main Office) | 139 Cabot St BEVERLY, MA 01915 |
Phone: | (978) 922-5254 |
Fax: | (978) 922-0491 |
Website: | https://www.beverlycreditunion.com |
Branches: | 1 branch locations |
Members: | 1,823 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 24192 |
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Membership Type: | Multiple common bond - Primarily federal, state, local government |
Corporate Credit Union: | No |
Year Opened: | 1985 |
Last Audited: | Dec 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $16,326,747 |
CEO/Manager: | Thomas F Hankard |
Chairperson: | Virginia Colton |
ASSETS: | $ Amount |
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Cash & Equivalents | 261,551 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 5,698,072 |
Unsecured Loans | 2,868,679 |
Other Loans | 5,396,245 |
TOTAL LOANS | 13,962,996 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -22,344 |
Land And Building | 0 |
Other Fixed Assets | 0 |
NCUSIF Deposit | 132,444 |
All Other Assets | 0 |
TOTAL ASSETS | 16,326,747 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 4,910 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 452,585 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 164,265 |
Regular shares | 7,529,438 |
All Other Shares & Deposits | 6,217,277 |
TOTAL SHARES & DEPOSITS | 13,910,980 |
TOTAL LIABILITIES | 14,368,475 |
Regular Reserve | 0 |
Other Reserves | 309,647 |
Undivided Earnings | 1,648,625 |
TOTAL EQUITY | 1,958,272 |
TOTAL LIABILITIES, SHARES, & EQUITY | 16,326,747 |
INCOME & EXPENSE | |
Loan Income | 600,353 |
Investment Income | 66,443 |
Other Income | 32,651 |
Total Employee Compensation & Benefits | 229,289 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 365,989 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
Cost of Funds | 155,259 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 59,095 |
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