Dec, 31, 2023 — COMMUNITY CREDIT UNION OF LYNN is a federally insured state chartered credit union headquartered in LYNN, MA with 3 branch locations and about $157.38 million in total assets. Opened 69 years ago in 1955, COMMUNITY CREDIT UNION OF LYNN has about 3,299 members and employs 30 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | COMMUNITY CREDIT UNION OF LYNN |
|---|---|
| Address: (Main Office) | 1 Andrew St LYNN, MA 01901-1101 |
| Phone: | (781) 598-0820 |
| Fax: | (781) 593-3190 |
| Website: | https://www.myccu.org |
| Branches: | 3 branch locations |
| Members: | 3,299 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 67558 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1955 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $157,375,837 |
| CEO/Manager: | Nicholas D Sarantopoulos |
| Chairperson: | Peter Katsos |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 2,741,500 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 87,052,567 |
| Unsecured Loans | 24,544,838 |
| Other Loans | 4,753,803 |
| TOTAL LOANS | 116,351,209 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -356,000 |
| Land And Building | 2,798,198 |
| Other Fixed Assets | 328,470 |
| NCUSIF Deposit | 1,129,564 |
| All Other Assets | 0 |
| TOTAL ASSETS | 157,375,837 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 12,750,000 |
| Accounts Payable & Other Liabilities | 1,472,919 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 37,820,215 |
| Regular shares | 39,740,740 |
| All Other Shares & Deposits | 53,326,781 |
| TOTAL SHARES & DEPOSITS | 130,887,736 |
| TOTAL LIABILITIES | 145,110,655 |
| Regular Reserve | 0 |
| Other Reserves | -89,974 |
| Undivided Earnings | 12,355,156 |
| TOTAL EQUITY | 12,265,182 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 157,375,837 |
| INCOME & EXPENSE | |
| Loan Income | 5,962,617 |
| Investment Income | 1,149,054 |
| Other Income | 947,351 |
| Total Employee Compensation & Benefits | 2,714,008 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 3,784,600 |
| Non-operating Income & (Expense) | 853,036 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 461,162 |
| Cost of Funds | 2,106,926 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 105,577 |
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