Dec, 31, 2023 — UMASSFIVE COLLEGE FEDERAL CREDIT UNION is a federal credit union headquartered in HADLEY, MA with 6 branch locations and about $700.84 million in total assets. Opened 57 years ago in 1967, UMASSFIVE COLLEGE FEDERAL CREDIT UNION has about 49,136 members and employs 128 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | UMASSFIVE COLLEGE FEDERAL CREDIT UNION |
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Address: (Main Office) | 200 Westgate Center Dr HADLEY, MA 01035 |
Phone: | (413) 256-5500 |
Fax: | (413) 253-9124 |
Website: | https://www.umassfive.coop |
Branches: | 6 branch locations |
Members: | 49,136 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 18181 |
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Membership Type: | Multiple common bond - Primarily educational |
Corporate Credit Union: | No |
Year Opened: | 1967 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $700,835,592 |
CEO/Manager: | Richard R Kump |
Chairperson: | Robert Harrison |
ASSETS: | $ Amount |
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Cash & Equivalents | 23,698,822 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 310,986,398 |
Unsecured Loans | 69,885,395 |
Other Loans | 162,236,703 |
TOTAL LOANS | 543,108,496 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -4,314,503 |
Land And Building | 3,987,085 |
Other Fixed Assets | 2,497,410 |
NCUSIF Deposit | 5,570,373 |
All Other Assets | 0 |
TOTAL ASSETS | 700,835,592 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 57,217,710 |
Accounts Payable & Other Liabilities | 5,572,541 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 165,672,170 |
Regular shares | 169,185,781 |
All Other Shares & Deposits | 257,689,523 |
TOTAL SHARES & DEPOSITS | 592,547,474 |
TOTAL LIABILITIES | 655,337,725 |
Regular Reserve | 0 |
Other Reserves | -14,334,878 |
Undivided Earnings | 59,832,745 |
TOTAL EQUITY | 45,497,867 |
TOTAL LIABILITIES, SHARES, & EQUITY | 700,835,592 |
INCOME & EXPENSE | |
Loan Income | 25,156,896 |
Investment Income | 3,022,631 |
Other Income | 2,521,902 |
Total Employee Compensation & Benefits | 10,831,429 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 11,140,264 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 1,128,040 |
Cost of Funds | 7,952,762 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 2,334,789 |
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