Dec, 31, 2023 — DANVERS MUNICIPAL FEDERAL CREDIT UNION is a federal credit union headquartered in DANVERS, MA with 1 branch location and about $8.07 million in total assets. Opened 63 years ago in 1961, DANVERS MUNICIPAL FEDERAL CREDIT UNION has about 1,122 members and employs 3 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | DANVERS MUNICIPAL FEDERAL CREDIT UNION |
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Address: (Main Office) | 12 Sylvan St DANVERS, MA 01923 |
Phone: | (978) 777-0001 |
Fax: | |
Website: | https://www.dmfcreditunion.com |
Branches: | 1 branch locations |
Members: | 1,122 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 14191 |
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Membership Type: | Federal, State, Local Government |
Corporate Credit Union: | No |
Year Opened: | 1961 |
Last Audited: | Sep 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $8,069,643 |
CEO/Manager: | Joseph L Collins |
Chairperson: | Mark C Hannon |
ASSETS: | $ Amount |
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Cash & Equivalents | 612,640 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 0 |
Unsecured Loans | 198,182 |
Other Loans | 5,240,515 |
TOTAL LOANS | 5,438,697 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -14,053 |
Land And Building | 0 |
Other Fixed Assets | 4,702 |
NCUSIF Deposit | 58,821 |
All Other Assets | 0 |
TOTAL ASSETS | 8,069,643 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 7,882 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 0 |
Regular shares | 5,227,685 |
All Other Shares & Deposits | 0 |
TOTAL SHARES & DEPOSITS | 5,227,685 |
TOTAL LIABILITIES | 5,235,567 |
Regular Reserve | 0 |
Other Reserves | 247,357 |
Undivided Earnings | 2,586,719 |
TOTAL EQUITY | 2,834,076 |
TOTAL LIABILITIES, SHARES, & EQUITY | 8,069,643 |
INCOME & EXPENSE | |
Loan Income | 172,821 |
Investment Income | 76,527 |
Other Income | 0 |
Total Employee Compensation & Benefits | 110,694 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 47,314 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 10,338 |
Cost of Funds | 3,127 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 118,229 |
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