Dec, 31, 2023 — MARBLEHEAD MUNICIPAL FEDERAL CREDIT UNION is a federal credit union headquartered in MARBLEHEAD, MA with 1 branch location and about $11.16 million in total assets. Opened 46 years ago in 1978, MARBLEHEAD MUNICIPAL FEDERAL CREDIT UNION has about 1,209 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: | MARBLEHEAD MUNICIPAL FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 7 Widger Rd MARBLEHEAD, MA 01945 |
| Phone: | (781) 631-7356 |
| Fax: | (781) 639-8717 |
| Website: | https://www.marbleheadcu.com |
| Branches: | 1 branch locations |
| Members: | 1,209 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 23276 |
|---|---|
| Membership Type: | Multiple common bond - Primarily federal, state, local government |
| Corporate Credit Union: | No |
| Year Opened: | 1978 |
| Last Audited: | Apr 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $11,164,203 |
| CEO/Manager: | James W Gaudette |
| Chairperson: | Dana W Kiernan |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 723,282 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 66,360 |
| Unsecured Loans | 946,612 |
| Other Loans | 7,344,736 |
| TOTAL LOANS | 8,357,707 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -60,673 |
| Land And Building | 0 |
| Other Fixed Assets | 1,333 |
| NCUSIF Deposit | 92,454 |
| All Other Assets | 0 |
| TOTAL ASSETS | 11,164,203 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 22,261 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 0 |
| Regular shares | 6,233,900 |
| All Other Shares & Deposits | 3,015,430 |
| TOTAL SHARES & DEPOSITS | 9,249,331 |
| TOTAL LIABILITIES | 9,271,592 |
| Regular Reserve | 0 |
| Other Reserves | 283,245 |
| Undivided Earnings | 1,609,366 |
| TOTAL EQUITY | 1,892,611 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 11,164,203 |
| INCOME & EXPENSE | |
| Loan Income | 298,234 |
| Investment Income | 117,105 |
| Other Income | 598 |
| Total Employee Compensation & Benefits | 166,583 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 67,765 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 12,176 |
| Cost of Funds | 73,579 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 95,834 |
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