Dec, 31, 2023 — SOUTHBRIDGE CREDIT UNION is a federally insured state chartered credit union headquartered in SOUTHBRIDGE, MA with 4 branch locations and about $213.07 million in total assets. Opened 86 years ago in 1938, SOUTHBRIDGE CREDIT UNION has about 12,801 members and employs 41 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | SOUTHBRIDGE CREDIT UNION |
|---|---|
| Address: (Main Office) | 155 Main St SOUTHBRIDGE, MA 01550 |
| Phone: | (508) 764-1773 |
| Fax: | (508) 764-1777 |
| Website: | https://www.southbridgecu.com |
| Branches: | 4 branch locations |
| Members: | 12,801 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 66374 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1938 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $213,067,157 |
| CEO/Manager: | Katherine R Theodoss |
| Chairperson: | Phil A Cyr |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 10,042,974 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 138,346,918 |
| Unsecured Loans | 15,723,618 |
| Other Loans | 20,344,648 |
| TOTAL LOANS | 174,496,475 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,730,844 |
| Land And Building | 4,551,350 |
| Other Fixed Assets | 3,094,139 |
| NCUSIF Deposit | 1,721,263 |
| All Other Assets | 0 |
| TOTAL ASSETS | 213,067,157 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 11,000,000 |
| Accounts Payable & Other Liabilities | 4,673,491 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 45,121,826 |
| Regular shares | 66,774,372 |
| All Other Shares & Deposits | 62,664,251 |
| TOTAL SHARES & DEPOSITS | 174,560,450 |
| TOTAL LIABILITIES | 190,233,941 |
| Regular Reserve | 0 |
| Other Reserves | -814,771 |
| Undivided Earnings | 23,647,987 |
| TOTAL EQUITY | 22,833,216 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 213,067,157 |
| INCOME & EXPENSE | |
| Loan Income | 7,817,313 |
| Investment Income | 616,632 |
| Other Income | 1,389,535 |
| Total Employee Compensation & Benefits | 3,491,452 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 4,382,987 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 456,561 |
| Cost of Funds | 1,945,513 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 313,497 |
| ↑ Back to Top | |