Dec, 31, 2023 — LIBERTY BAY CREDIT UNION is a federally insured state chartered credit union headquartered in BRAINTREE, MA with 4 branch locations and about $786.15 million in total assets. Opened 107 years ago in 1917, LIBERTY BAY CREDIT UNION has about 23,832 members and employs 73 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | LIBERTY BAY CREDIT UNION |
|---|---|
| Address: (Main Office) | 300 Granite St Fl 3 BRAINTREE, MA 02184-3909 |
| Phone: | (617) 439-6500 |
| Fax: | (617) 439-6556 |
| Website: | https://www.lbcu.org |
| Branches: | 4 branch locations |
| Members: | 23,832 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 67541 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1917 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $786,151,659 |
| CEO/Manager: | John Parillo |
| Chairperson: | Peter S Lincoln |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 24,395,257 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 511,968,461 |
| Unsecured Loans | 14,789,179 |
| Other Loans | 84,682,699 |
| TOTAL LOANS | 611,440,339 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -3,233,441 |
| Land And Building | 1,291,535 |
| Other Fixed Assets | 4,046,329 |
| NCUSIF Deposit | 4,646,650 |
| All Other Assets | 96,430 |
| TOTAL ASSETS | 786,151,659 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 4,921 |
| Notes & Interest Payable | 139,000,000 |
| Accounts Payable & Other Liabilities | 8,892,262 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 99,511,060 |
| Regular shares | 169,319,746 |
| All Other Shares & Deposits | 268,882,848 |
| TOTAL SHARES & DEPOSITS | 537,713,654 |
| TOTAL LIABILITIES | 685,684,324 |
| Regular Reserve | 0 |
| Other Reserves | -11,291,897 |
| Undivided Earnings | 111,759,232 |
| TOTAL EQUITY | 100,467,335 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 786,151,659 |
| INCOME & EXPENSE | |
| Loan Income | 26,077,660 |
| Investment Income | 4,303,979 |
| Other Income | 1,114,912 |
| Total Employee Compensation & Benefits | 10,766,324 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 7,032,776 |
| Non-operating Income & (Expense) | -57,913 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 772,633 |
| Cost of Funds | 11,283,054 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 3,438,026 |
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