Dec, 31, 2023 — MALDEN FEDERAL CREDIT UNION is a federal credit union headquartered in MALDEN, MA with 1 branch location and about $27.38 million in total assets. Opened 83 years ago in 1941, MALDEN FEDERAL CREDIT UNION has about 1,617 members and employs 4 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | MALDEN FEDERAL CREDIT UNION |
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Address: (Main Office) | 10 Holden St MALDEN, MA 02148 |
Phone: | (781) 324-2241 |
Fax: | (781) 324-8828 |
Website: | https://maldenfcu.com |
Branches: | 1 branch locations |
Members: | 1,617 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 4472 |
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Membership Type: | Multiple common bond - Primarily federal, state, local government |
Corporate Credit Union: | No |
Year Opened: | 1941 |
Last Audited: | Mar 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $27,380,291 |
CEO/Manager: | Patricia L Dempsey |
Chairperson: | Fred Feldman |
ASSETS: | $ Amount |
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Cash & Equivalents | 2,275,662 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 9,906,601 |
Unsecured Loans | 984,192 |
Other Loans | 1,501,452 |
TOTAL LOANS | 12,392,245 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -62,175 |
Land And Building | 0 |
Other Fixed Assets | 12,826 |
NCUSIF Deposit | 235,370 |
All Other Assets | 0 |
TOTAL ASSETS | 27,380,291 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 21,156 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 2,477,994 |
Regular shares | 5,898,437 |
All Other Shares & Deposits | 14,320,094 |
TOTAL SHARES & DEPOSITS | 22,696,525 |
TOTAL LIABILITIES | 22,717,681 |
Regular Reserve | 0 |
Other Reserves | 625,422 |
Undivided Earnings | 4,037,188 |
TOTAL EQUITY | 4,662,610 |
TOTAL LIABILITIES, SHARES, & EQUITY | 27,380,291 |
INCOME & EXPENSE | |
Loan Income | 575,050 |
Investment Income | 271,452 |
Other Income | 42,315 |
Total Employee Compensation & Benefits | 323,953 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 302,631 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 1,353 |
Cost of Funds | 162,129 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 101,176 |
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