Dec, 31, 2023 — MASSMUTUAL FEDERAL CREDIT UNION is a federal credit union headquartered in SPRINGFIELD, MA with 2 branch locations and about $335.23 million in total assets. Opened 62 years ago in 1962, MASSMUTUAL FEDERAL CREDIT UNION has about 13,350 members and employs 28 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | MASSMUTUAL FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 1295 State St SPRINGFIELD, MA 01111 |
| Phone: | (413) 744-3431 |
| Fax: | (413) 226-4359 |
| Website: | https://www.massmutualfcu.org |
| Branches: | 2 branch locations |
| Members: | 13,350 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 24566 |
|---|---|
| Membership Type: | Service - Finance, Insurance, Real Estate, Trade |
| Corporate Credit Union: | No |
| Year Opened: | 1962 |
| Last Audited: | Mar 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $335,229,984 |
| CEO/Manager: | Lisa Asadourian |
| Chairperson: | Kerry Hurley |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 5,478,654 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 155,522,704 |
| Unsecured Loans | 13,350,533 |
| Other Loans | 35,094,482 |
| TOTAL LOANS | 203,967,719 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -379,291 |
| Land And Building | 0 |
| Other Fixed Assets | 206,194 |
| NCUSIF Deposit | 2,506,925 |
| All Other Assets | 0 |
| TOTAL ASSETS | 335,229,984 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 23,000,000 |
| Accounts Payable & Other Liabilities | 2,666,914 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 41,903,521 |
| Regular shares | 55,954,135 |
| All Other Shares & Deposits | 173,429,893 |
| TOTAL SHARES & DEPOSITS | 271,287,549 |
| TOTAL LIABILITIES | 296,954,463 |
| Regular Reserve | 0 |
| Other Reserves | 2,293,771 |
| Undivided Earnings | 35,981,750 |
| TOTAL EQUITY | 38,275,521 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 335,229,984 |
| INCOME & EXPENSE | |
| Loan Income | 9,785,195 |
| Investment Income | 2,176,587 |
| Other Income | 183,971 |
| Total Employee Compensation & Benefits | 2,639,900 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 4,197,745 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 377,342 |
| Cost of Funds | 6,072,436 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -70,065 |
| ↑ Back to Top | |