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NESC FEDERAL CREDIT UNION

Dec, 31, 2023 — NESC FEDERAL CREDIT UNION is a federal credit union headquartered in METHUEN, MA with 4 branch locations and about $112.44 million in total assets. Opened 66 years ago in 1958, NESC FEDERAL CREDIT UNION has about 7,990 members and employs 27 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: 211380302
Name:NESC FEDERAL CREDIT UNION
Address:
(Main Office)
248 PLEASANT ST
METHUEN, MA 01844
Phone:(978) 688-8800
Fax:(978) 688-8808
Website:https://www.nescfcu.org
Branches:4 branch locations
Members:7,990
Credit Union Type:Federal Credit Union
Charter Number:12334
Membership Type:Multiple common bond - Primarily federal, state, local government
Corporate Credit Union:No
Year Opened:1958
Last Audited:Jun 01, 2023
FHLB Member:Yes
Low Income Designation:No
Assets:$112,440,856
CEO/Manager:Johnathan G Hildreth
Chairperson:ELAINE SULLIVAN

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Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 6,719,945
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 64,129,167
 Unsecured Loans 8,514,173
 Other Loans 16,051,838
 TOTAL LOANS 88,695,178
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -256,457
 Land And Building 2,353,625
 Other Fixed Assets 55,097
 NCUSIF Deposit 1,009,936
 All Other Assets 0
  TOTAL ASSETS 112,440,856
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 823,816
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 20,346,000
 Regular shares 55,214,995
 All Other Shares & Deposits 24,987,430
  TOTAL SHARES & DEPOSITS 100,548,425
  TOTAL LIABILITIES 101,372,241
 Regular Reserve 0
 Other Reserves 2,082,957
 Undivided Earnings 8,985,658
  TOTAL EQUITY 11,068,615
  TOTAL LIABILITIES, SHARES, & EQUITY 112,440,856
INCOME & EXPENSE  
 Loan Income 4,186,360
 Investment Income 681,068
 Other Income 872,114
 Total Employee Compensation & Benefits 2,152,409
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 2,622,585
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 97,852
 Cost of Funds 513,067
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 695,313
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