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NEW BEDFORD CREDIT UNION

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
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
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

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
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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