Dec, 31, 2023 — METRO CREDIT UNION is a federally insured state chartered credit union headquartered in CHELSEA, MA with 19 branch locations and about $3.41 billion in total assets. Opened 98 years ago in 1926, METRO CREDIT UNION has about 207,444 members and employs 322 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | METRO CREDIT UNION |
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Address: (Main Office) | 200 Revere Beach Pkwy CHELSEA, MA 02150-1608 |
Phone: | (877) 696-3876 |
Fax: | (617) 889-7663 |
Website: | https://www.metrocu.org |
Branches: | 19 branch locations |
Members: | 207,444 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 66364 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1926 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $3,412,455,327 |
CEO/Manager: | Robert M Cashman |
Chairperson: | Mark Smoller |
ASSETS: | $ Amount |
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Cash & Equivalents | 146,327,396 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 908,024 |
Real Estate Loans | 1,827,695,660 |
Unsecured Loans | 83,802,665 |
Other Loans | 1,095,182,130 |
TOTAL LOANS | 3,006,680,455 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -14,471,229 |
Land And Building | 28,719,616 |
Other Fixed Assets | 7,460,076 |
NCUSIF Deposit | 23,233,463 |
All Other Assets | 347,652 |
TOTAL ASSETS | 3,412,455,327 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 1,104,912 |
Notes & Interest Payable | 422,862,950 |
Accounts Payable & Other Liabilities | 36,158,264 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 335,646,920 |
Regular shares | 642,595,048 |
All Other Shares & Deposits | 1,717,195,917 |
TOTAL SHARES & DEPOSITS | 2,695,437,884 |
TOTAL LIABILITIES | 3,156,218,695 |
Regular Reserve | 0 |
Other Reserves | 3,233,621 |
Undivided Earnings | 253,003,011 |
TOTAL EQUITY | 256,236,632 |
TOTAL LIABILITIES, SHARES, & EQUITY | 3,412,455,327 |
INCOME & EXPENSE | |
Loan Income | 114,899,168 |
Investment Income | 9,471,412 |
Other Income | 13,586,120 |
Total Employee Compensation & Benefits | 32,114,273 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 32,134,048 |
Non-operating Income & (Expense) | -1,161 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 4,831,534 |
Cost of Funds | 64,098,037 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 15,355,066 |
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