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METROWEST COMMUNITY FEDERAL CREDIT UNION

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.


ABA Routing Number: 211382986
Name:METROWEST COMMUNITY FEDERAL CREDIT UNION
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
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

Call Report

  • First Time Homebuyer Program
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
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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