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BEVERLY MUNICIPAL FEDERAL CREDIT UNION

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
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
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

Call Report

  • First Time Homebuyer Program
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
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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