Dec, 31, 2023 — METROWEST COMMUNITY FEDERAL CREDIT UNION is a federal credit union headquartered in FRAMINGHAM, MA with 1 branch location and about $131.35 million in total assets. Opened 83 years ago in 1941, METROWEST COMMUNITY FEDERAL CREDIT UNION has about 7,062 members and employs 13 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | METROWEST COMMUNITY FEDERAL CREDIT UNION |
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Address: (Main Office) | 200 Concord St FRAMINGHAM, MA 01702-8306 |
Phone: | (508) 879-5522 |
Fax: | |
Website: | https://www.mwcfcu.com |
Branches: | 1 branch locations |
Members: | 7,062 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 4731 |
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Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
Corporate Credit Union: | No |
Year Opened: | 1941 |
Last Audited: | Sep 01, 2023 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $131,353,922 |
CEO/Manager: | Joseph Mansour |
Chairperson: | Paul Barbieri |
ASSETS: | $ Amount |
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Cash & Equivalents | 5,948,771 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 50,593,348 |
Unsecured Loans | 7,273,208 |
Other Loans | 20,303,130 |
TOTAL LOANS | 78,169,686 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -324,125 |
Land And Building | 304,052 |
Other Fixed Assets | 136,128 |
NCUSIF Deposit | 1,162,071 |
All Other Assets | 0 |
TOTAL ASSETS | 131,353,922 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 17,763 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | -1,774,830 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 15,864,119 |
Regular shares | 40,143,214 |
All Other Shares & Deposits | 66,466,282 |
TOTAL SHARES & DEPOSITS | 122,473,614 |
TOTAL LIABILITIES | 120,716,547 |
Regular Reserve | 0 |
Other Reserves | -1,501,525 |
Undivided Earnings | 12,138,900 |
TOTAL EQUITY | 10,637,375 |
TOTAL LIABILITIES, SHARES, & EQUITY | 131,353,922 |
INCOME & EXPENSE | |
Loan Income | 3,072,067 |
Investment Income | 1,167,810 |
Other Income | 493,480 |
Total Employee Compensation & Benefits | 1,275,337 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 1,594,474 |
Non-operating Income & (Expense) | 26,500 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 52,500 |
Cost of Funds | 1,872,036 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 156,274 |
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