Dec, 31, 2023 — BOSTON CUSTOMS FEDERAL CREDIT UNION is a federal credit union headquartered in BOSTON, MA with 1 branch location and about $2.50 million in total assets. Opened 89 years ago in 1935, BOSTON CUSTOMS FEDERAL CREDIT UNION has about 345 members and employs 5 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | BOSTON CUSTOMS FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 10 Causeway St Rm 436 BOSTON, MA 02222-1051 |
| Phone: | (617) 742-1135 |
| Fax: | (617) 742-4283 |
| Website: | https://bostoncustomsfcu.org |
| Branches: | 1 branch locations |
| Members: | 345 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 524 |
|---|---|
| Membership Type: | Federal, State, Local Government |
| Corporate Credit Union: | No |
| Year Opened: | 1935 |
| Last Audited: | May 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $2,500,283 |
| CEO/Manager: | Richard P Dargon |
| Chairperson: | Sarah Young |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 104,747 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 722,517 |
| Other Loans | 1,126,118 |
| TOTAL LOANS | 1,848,635 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -4,606 |
| Land And Building | 0 |
| Other Fixed Assets | 0 |
| NCUSIF Deposit | 22,107 |
| All Other Assets | 0 |
| TOTAL ASSETS | 2,500,283 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 75,000 |
| Accounts Payable & Other Liabilities | 325 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 0 |
| Regular shares | 2,073,625 |
| All Other Shares & Deposits | 0 |
| TOTAL SHARES & DEPOSITS | 2,073,625 |
| TOTAL LIABILITIES | 2,148,950 |
| Regular Reserve | 0 |
| Other Reserves | 91,840 |
| Undivided Earnings | 259,493 |
| TOTAL EQUITY | 351,333 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 2,500,283 |
| INCOME & EXPENSE | |
| Loan Income | 91,835 |
| Investment Income | 11,050 |
| Other Income | 308 |
| Total Employee Compensation & Benefits | 56,906 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 31,791 |
| Non-operating Income & (Expense) | 2,000 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
| Cost of Funds | 10,821 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 5,675 |
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