Dec, 31, 2023 — METHUEN FEDERAL CREDIT UNION is a federal credit union headquartered in METHUEN, MA with 1 branch location and about $35.50 million in total assets. Opened 68 years ago in 1956, METHUEN FEDERAL CREDIT UNION has about 2,456 members and employs 8 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | METHUEN FEDERAL CREDIT UNION |
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Address: (Main Office) | 248 Broadway METHUEN, MA 01844 |
Phone: | (978) 686-1471 |
Fax: | (978) 686-2627 |
Website: | https://methuencreditunion.com |
Branches: | 1 branch locations |
Members: | 2,456 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 10954 |
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Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
Corporate Credit Union: | No |
Year Opened: | 1956 |
Last Audited: | Mar 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $35,501,456 |
CEO/Manager: | Andrew J Moisan |
Chairperson: | Josephine Napolitano |
ASSETS: | $ Amount |
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Cash & Equivalents | 1,945,886 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 9,851,528 |
Unsecured Loans | 2,116,315 |
Other Loans | 4,202,500 |
TOTAL LOANS | 16,170,343 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -47,876 |
Land And Building | 1,205,501 |
Other Fixed Assets | 28,690 |
NCUSIF Deposit | 322,366 |
All Other Assets | 0 |
TOTAL ASSETS | 35,501,456 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 57,868 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 3,476,973 |
Regular shares | 19,155,061 |
All Other Shares & Deposits | 9,175,186 |
TOTAL SHARES & DEPOSITS | 31,807,221 |
TOTAL LIABILITIES | 31,865,089 |
Regular Reserve | 0 |
Other Reserves | 367,292 |
Undivided Earnings | 3,269,075 |
TOTAL EQUITY | 3,636,367 |
TOTAL LIABILITIES, SHARES, & EQUITY | 35,501,456 |
INCOME & EXPENSE | |
Loan Income | 824,577 |
Investment Income | 289,932 |
Other Income | 163,376 |
Total Employee Compensation & Benefits | 510,296 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 548,365 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 34,934 |
Cost of Funds | 212,207 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 12,843 |
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