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NORTH ADAMS M E FEDERAL CREDIT UNION

Dec, 31, 2023 — NORTH ADAMS M E FEDERAL CREDIT UNION is a federal credit union headquartered in NORTH ADAMS, MA with 1 branch location and about $2.05 million in total assets. Opened 65 years ago in 1959, NORTH ADAMS M E FEDERAL CREDIT UNION has about 347 members offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:NORTH ADAMS M E FEDERAL CREDIT UNION
Address:
(Main Office)
60 Roberts Dr Ste 112
NORTH ADAMS, MA 01247-3255
Phone:(413) 662-2657
Fax:(413) 662-2173
Website:n/a
Branches:1 branch locations
Members:347
Credit Union Type:Federal Credit Union
Charter Number:13274
Membership Type:Multiple common bond - Primarily federal, state, local government
Corporate Credit Union:No
Year Opened:1959
Last Audited:Sep 01, 2022
FHLB Member:No
Low Income Designation:No
Assets:$2,052,573
CEO/Manager:Catherine A Corbosiero
Chairperson:Linda Lefebvre

Call Report

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 198,085
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 219,186
 Other Loans 1,143,927
 TOTAL LOANS 1,363,113
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -18,352
 Land And Building 0
 Other Fixed Assets 1,259
 NCUSIF Deposit 16,648
 All Other Assets 0
  TOTAL ASSETS 2,052,573
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities -2,448
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 0
 Regular shares 1,645,131
 All Other Shares & Deposits 0
  TOTAL SHARES & DEPOSITS 1,645,131
  TOTAL LIABILITIES 1,642,683
 Regular Reserve 0
 Other Reserves 66,944
 Undivided Earnings 342,946
  TOTAL EQUITY 409,890
  TOTAL LIABILITIES, SHARES, & EQUITY 2,052,573
INCOME & EXPENSE  
 Loan Income 74,767
 Investment Income 11,079
 Other Income 2,086
 Total Employee Compensation & Benefits 67,190
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 23,004
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 1,635
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -3,897
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