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HEALTH ALLIANCE FEDERAL CREDIT UNION

Dec, 31, 2023 — HEALTH ALLIANCE FEDERAL CREDIT UNION is a federal credit union headquartered in SOMERVILLE, MA with 1 branch location and about $5.79 million in total assets. Opened 58 years ago in 1966, HEALTH ALLIANCE FEDERAL CREDIT UNION has about 1,351 members offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:HEALTH ALLIANCE FEDERAL CREDIT UNION
Address:
(Main Office)
230 Highland Ave
SOMERVILLE, MA 02143-1408
Phone:(617) 591-6709
Fax:(617) 591-6711
Website:https://www.myhacu.org
Branches:1 branch locations
Members:1,351
Credit Union Type:Federal Credit Union
Charter Number:17679
Membership Type:Service - Health Care
Corporate Credit Union:No
Year Opened:1966
Last Audited:Mar 01, 2023
FHLB Member:No
Low Income Designation:No
Assets:$5,791,588
CEO/Manager:Jacqueline A Kumpa
Chairperson:John Colbert

Call Report

  • Credit Builder
  • Payday Alternative Loans (PAL Loans)

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 174,822
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 1,566,415
 Other Loans 2,453,339
 TOTAL LOANS 4,019,754
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -85,126
 Land And Building 0
 Other Fixed Assets 1,656
 NCUSIF Deposit 58,310
 All Other Assets 0
  TOTAL ASSETS 5,791,588
LIABILITIES & CAPITAL:  
 Dividends Payable 23,492
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 19,226
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 36,296
 Regular shares 3,892,884
 All Other Shares & Deposits 1,149,359
  TOTAL SHARES & DEPOSITS 5,078,539
  TOTAL LIABILITIES 5,121,257
 Regular Reserve 0
 Other Reserves 60,690
 Undivided Earnings 609,641
  TOTAL EQUITY 670,331
  TOTAL LIABILITIES, SHARES, & EQUITY 5,791,588
INCOME & EXPENSE  
 Loan Income 273,566
 Investment Income 32,164
 Other Income 15,959
 Total Employee Compensation & Benefits 149,664
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 51,027
 Non-operating Income & (Expense) 811
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 15,000
 Cost of Funds 33,675
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 73,134
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