Dec, 31, 2023 — ARRHA CREDIT UNION is a federally insured state chartered credit union headquartered in SPRINGFIELD, MA with 3 branch locations and about $139.87 million in total assets. Opened 95 years ago in 1929, ARRHA CREDIT UNION has about 9,620 members and employs 26 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | ARRHA CREDIT UNION |
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Address: (Main Office) | 145 Industry Ave SPRINGFIELD, MA 01104-3222 |
Phone: | (413) 732-9812 |
Fax: | (413) 737-7635 |
Website: | https://www.arrhacu.com |
Branches: | 3 branch locations |
Members: | 9,620 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 61189 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1929 |
Last Audited: | Dec 01, 2023 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $139,867,406 |
CEO/Manager: | Michael S Ostrowski |
Chairperson: | Todd S Cieplinski |
ASSETS: | $ Amount |
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Cash & Equivalents | 2,872,839 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 90,122,877 |
Unsecured Loans | 1,487,861 |
Other Loans | 12,282,846 |
TOTAL LOANS | 103,902,656 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -310,320 |
Land And Building | 2,264,364 |
Other Fixed Assets | 618,503 |
NCUSIF Deposit | 1,134,141 |
All Other Assets | 0 |
TOTAL ASSETS | 139,867,406 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 6,045 |
Notes & Interest Payable | 10,575,000 |
Accounts Payable & Other Liabilities | 1,625,691 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 22,882,282 |
Regular shares | 51,242,107 |
All Other Shares & Deposits | 41,108,542 |
TOTAL SHARES & DEPOSITS | 115,232,931 |
TOTAL LIABILITIES | 127,439,667 |
Regular Reserve | 0 |
Other Reserves | -743,421 |
Undivided Earnings | 13,171,160 |
TOTAL EQUITY | 12,427,739 |
TOTAL LIABILITIES, SHARES, & EQUITY | 139,867,406 |
INCOME & EXPENSE | |
Loan Income | 4,215,529 |
Investment Income | 791,449 |
Other Income | 708,603 |
Total Employee Compensation & Benefits | 2,351,603 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 2,375,081 |
Non-operating Income & (Expense) | -21,727 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 33,891 |
Cost of Funds | 1,122,055 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 273,135 |
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