GLOUCESTER MUNICIPAL CREDIT UNION is no longer an active credit union according to the NCUA.
Dec, 31, 2023 — GLOUCESTER MUNICIPAL CREDIT UNION is a federally insured state chartered credit union headquartered in GLOUCESTER, MA with 1 branch location and about $2.13 million in total assets. Opened 83 years ago in 1941, GLOUCESTER MUNICIPAL CREDIT UNION has about 473 members and employs 474 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | GLOUCESTER MUNICIPAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 9 DALE AVE, CITY HALL GLOUCESTER, MA 01930 |
| Phone: | (978) 283-1345 |
| Fax: | (978) 282-1496 |
| Website: | n/a |
| Branches: | 1 branch locations |
| Members: | 473 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 66371 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1941 |
| Last Audited: | Mar 01, 2020 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $2,128,281 |
| CEO/Manager: | Lucinda L Pratt |
| Chairperson: | Lawrence Ingersoll |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 598,733 |
| TOTAL INVESTMENTS | 1,165,761 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 320,201 |
| Other Loans | 0 |
| TOTAL LOANS | 320,201 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -5,900 |
| Land And Building | 0 |
| Other Fixed Assets | 2,448 |
| NCUSIF Deposit | 16,159 |
| All Other Assets | 30,879 |
| TOTAL ASSETS | 2,128,281 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 1,327 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 0 |
| Regular shares | 1,786,540 |
| All Other Shares & Deposits | 0 |
| TOTAL SHARES & DEPOSITS | 1,786,540 |
| TOTAL LIABILITIES | 1,787,867 |
| Regular Reserve | 54,923 |
| Other Reserves | 0 |
| Undivided Earnings | 285,491 |
| TOTAL EQUITY | 340,414 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 2,128,281 |
| INCOME & EXPENSE | |
| Loan Income | 35,356 |
| Investment Income | 24,180 |
| Other Income | 0 |
| Total Employee Compensation & Benefits | 54,368 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 29,504 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
| Cost of Funds | 2,686 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -27,022 |
| ↑ Back to Top | |