Dec, 31, 2023 — NEW BEDFORD CREDIT UNION is a federally insured state chartered credit union headquartered in NEW BEDFORD, MA with 2 branch locations and about $161.96 million in total assets. Opened 92 years ago in 1932, NEW BEDFORD CREDIT UNION has about 10,887 members and employs 37 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | NEW BEDFORD CREDIT UNION |
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Address: (Main Office) | 1150 Purchase St NEW BEDFORD, MA 02740-6635 |
Phone: | (508) 994-6546 |
Fax: | (508) 990-7472 |
Website: | https://nbcu4u.com |
Branches: | 2 branch locations |
Members: | 10,887 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 66733 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1932 |
Last Audited: | Oct 01, 2023 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $161,961,741 |
CEO/Manager: | Berta Varao |
Chairperson: | Peter E Berthiaume |
ASSETS: | $ Amount |
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Cash & Equivalents | 11,851,095 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 75,876,610 |
Unsecured Loans | 10,939,397 |
Other Loans | 24,889,505 |
TOTAL LOANS | 111,705,512 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -296,902 |
Land And Building | 335,539 |
Other Fixed Assets | 230,125 |
NCUSIF Deposit | 1,414,258 |
All Other Assets | 5,606 |
TOTAL ASSETS | 161,961,741 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 693,342 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 23,366,852 |
Regular shares | 72,991,653 |
All Other Shares & Deposits | 49,491,014 |
TOTAL SHARES & DEPOSITS | 145,849,519 |
TOTAL LIABILITIES | 146,542,861 |
Regular Reserve | 0 |
Other Reserves | 1,514,182 |
Undivided Earnings | 13,904,698 |
TOTAL EQUITY | 15,418,880 |
TOTAL LIABILITIES, SHARES, & EQUITY | 161,961,741 |
INCOME & EXPENSE | |
Loan Income | 5,119,324 |
Investment Income | 1,095,701 |
Other Income | 1,149,217 |
Total Employee Compensation & Benefits | 2,337,534 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 2,521,399 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 210,855 |
Cost of Funds | 1,159,813 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 1,134,641 |
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