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.
Name: | NESC FEDERAL CREDIT UNION |
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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 |
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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 |
ASSETS: | $ Amount |
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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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