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National Credit Union Service Organization

READING MASS. TOWN EMPLOYEES FEDERAL CREDIT UNION

Dec, 31, 2023 — READING MASS. TOWN EMPLOYEES FEDERAL CREDIT UNION is a federal credit union headquartered in READING, MA with 1 branch location and about $8.37 million in total assets. Opened 49 years ago in 1975, READING MASS. TOWN EMPLOYEES FEDERAL CREDIT UNION has about 724 members offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:READING MASS. TOWN EMPLOYEES FEDERAL CREDIT UNION
Address:
(Main Office)
218 Ash st
READING, MA 01867
Phone:(781) 942-9019
Fax:(781) 942-9839
Website:https://readingcreditunion.com
Branches:1 branch locations
Members:724
Credit Union Type:Federal Credit Union
Charter Number:21997
Membership Type:Federal, State, Local Government
Corporate Credit Union:No
Year Opened:1975
Last Audited:Dec 01, 2022
FHLB Member:No
Low Income Designation:No
Assets:$8,365,778
CEO/Manager:Edward G OBrien
Chairperson:Louis E Debrigard

Call Report

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 1,008,290
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 462,475
 Unsecured Loans 286,274
 Other Loans 2,314,081
 TOTAL LOANS 3,062,830
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -28,479
 Land And Building 0
 Other Fixed Assets 0
 NCUSIF Deposit 78,423
 All Other Assets 0
  TOTAL ASSETS 8,365,778
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 130,000
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 896,348
 Regular shares 6,061,716
 All Other Shares & Deposits 0
  TOTAL SHARES & DEPOSITS 6,958,064
  TOTAL LIABILITIES 7,088,064
 Regular Reserve 0
 Other Reserves 221,689
 Undivided Earnings 1,056,025
  TOTAL EQUITY 1,277,714
  TOTAL LIABILITIES, SHARES, & EQUITY 8,365,778
INCOME & EXPENSE  
 Loan Income 142,500
 Investment Income 163,340
 Other Income 6,558
 Total Employee Compensation & Benefits 298,196
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 73,961
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 13,907
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -73,666
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