Dec, 31, 2023 — CRANSTON MUNICIPAL EMPLOYEES CREDIT UNION is a federally insured state chartered credit union headquartered in CRANSTON, RI with 1 branch location and about $83.60 million in total assets. Opened 78 years ago in 1946, CRANSTON MUNICIPAL EMPLOYEES CREDIT UNION has about 3,057 members and employs 11 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | CRANSTON MUNICIPAL EMPLOYEES CREDIT UNION |
|---|---|
| Address: (Main Office) | 1615 Pontiac Ave CRANSTON, RI 02920 |
| Phone: | (401) 463-3010 |
| Fax: | (401) 463-3319 |
| Website: | https://www.cranstonmecu.org |
| Branches: | 1 branch locations |
| Members: | 3,057 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 60780 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1946 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $83,595,085 |
| CEO/Manager: | Brian W Ducharme |
| Chairperson: | Stephen P Hogan |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,736,633 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 38,805,483 |
| Unsecured Loans | 3,021,699 |
| Other Loans | 13,594,467 |
| TOTAL LOANS | 55,421,648 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -96,183 |
| Land And Building | 1,252,087 |
| Other Fixed Assets | 162,655 |
| NCUSIF Deposit | 622,307 |
| All Other Assets | 0 |
| TOTAL ASSETS | 83,595,085 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 48,476 |
| Notes & Interest Payable | 12,500,000 |
| Accounts Payable & Other Liabilities | 190,847 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 5,409,413 |
| Regular shares | 18,708,112 |
| All Other Shares & Deposits | 34,698,867 |
| TOTAL SHARES & DEPOSITS | 58,816,392 |
| TOTAL LIABILITIES | 71,560,715 |
| Regular Reserve | 0 |
| Other Reserves | -795,382 |
| Undivided Earnings | 12,829,752 |
| TOTAL EQUITY | 12,034,370 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 83,595,085 |
| INCOME & EXPENSE | |
| Loan Income | 2,174,123 |
| Investment Income | 633,772 |
| Other Income | 36,010 |
| Total Employee Compensation & Benefits | 1,057,449 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 754,308 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
| Cost of Funds | 1,195,901 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 227,836 |
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