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MOBILE EDUCATORS CREDIT UNION

Dec, 31, 2023 — MOBILE EDUCATORS CREDIT UNION is a federally insured state chartered credit union headquartered in MOBILE, AL with 3 branch locations and about $108.40 million in total assets. Opened 70 years ago in 1954, MOBILE EDUCATORS CREDIT UNION has about 8,627 members and employs 17 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:MOBILE EDUCATORS CREDIT UNION
Address:
(Main Office)
3150 AIRPORT BLVD
MOBILE, AL 36606
Phone:(251) 473-4712
Fax:(251) 476-6900
Website:https://www.yourmecu.com
Branches:3 branch locations
Members:8,627
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:61286
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1954
Last Audited:Jun 01, 2023
FHLB Member:No
Low Income Designation:No
Assets:$108,395,286
CEO/Manager:Tina B Williams
Chairperson:Peter Kingsford

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Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 13,824,792
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 904,346
 Unsecured Loans 1,455,960
 Other Loans 14,836,068
 TOTAL LOANS 17,196,374
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -121,704
 Land And Building 3,132,658
 Other Fixed Assets 188,337
 NCUSIF Deposit 984,828
 All Other Assets 0
  TOTAL ASSETS 108,395,286
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 793,018
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 23,706,663
 Regular shares 70,394,082
 All Other Shares & Deposits 2,343,577
  TOTAL SHARES & DEPOSITS 96,444,322
  TOTAL LIABILITIES 97,237,340
 Regular Reserve 0
 Other Reserves -654,789
 Undivided Earnings 11,812,735
  TOTAL EQUITY 11,157,946
  TOTAL LIABILITIES, SHARES, & EQUITY 108,395,286
INCOME & EXPENSE  
 Loan Income 762,476
 Investment Income 2,162,512
 Other Income 704,567
 Total Employee Compensation & Benefits 1,070,142
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 1,874,160
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 19,987
 Cost of Funds 210,079
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 917,130
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