Dec, 31, 2023 — LEOMINSTER CREDIT UNION is a federally insured state chartered credit union headquartered in LEOMINSTER, MA with 10 branch locations and about $916.30 million in total assets. Opened 70 years ago in 1954, LEOMINSTER CREDIT UNION has about 37,774 members and employs 135 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | LEOMINSTER CREDIT UNION |
|---|---|
| Address: (Main Office) | 20 Adams St LEOMINSTER, MA 01453 |
| Phone: | (978) 537-8021 |
| Fax: | |
| Website: | https://www.leominstercu.com |
| Branches: | 10 branch locations |
| Members: | 37,774 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 66699 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1954 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $916,304,353 |
| CEO/Manager: | Barbara A Mahoney |
| Chairperson: | Richard Sheppard |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 7,694,679 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 382,773,231 |
| Unsecured Loans | 5,900,319 |
| Other Loans | 268,759,492 |
| TOTAL LOANS | 657,433,042 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -5,257,712 |
| Land And Building | 9,481,211 |
| Other Fixed Assets | 2,967,716 |
| NCUSIF Deposit | 6,201,269 |
| All Other Assets | 0 |
| TOTAL ASSETS | 916,304,353 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 173,000,000 |
| Accounts Payable & Other Liabilities | 6,917,920 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 170,004,681 |
| Regular shares | 185,227,702 |
| All Other Shares & Deposits | 325,013,345 |
| TOTAL SHARES & DEPOSITS | 680,245,730 |
| TOTAL LIABILITIES | 860,163,650 |
| Regular Reserve | 0 |
| Other Reserves | -14,333,333 |
| Undivided Earnings | 70,474,036 |
| TOTAL EQUITY | 56,140,703 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 916,304,353 |
| INCOME & EXPENSE | |
| Loan Income | 27,994,798 |
| Investment Income | 8,352,876 |
| Other Income | 4,308,545 |
| Total Employee Compensation & Benefits | 13,414,964 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 10,645,049 |
| Non-operating Income & (Expense) | 129,293 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 891,350 |
| Cost of Funds | 15,998,827 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 2,012,788 |
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