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MOBILE GOVERNMENT EMP. CREDIT UNION

Dec, 31, 2023 — MOBILE GOVERNMENT EMP. CREDIT UNION is a federally insured state chartered credit union headquartered in MOBILE, AL with 2 branch locations and about $20.87 million in total assets. Opened 96 years ago in 1928, MOBILE GOVERNMENT EMP. CREDIT UNION has about 714 members and employs 4 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 GOVERNMENT EMP. CREDIT UNION
Address:
(Main Office)
109 Saint Joseph St
MOBILE, AL 36602-3605
Phone:(251) 694-4100
Fax:(251) 694-4316
Website:https://mobgecu.com
Branches:2 branch locations
Members:714
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:61339
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1928
Last Audited:May 01, 2023
FHLB Member:No
Low Income Designation:No
Assets:$20,865,997
CEO/Manager:WINIFRED A MAIBEN
Chairperson:Janet M DRISKELL

Call Report

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 131,777
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 1,360,938
 Unsecured Loans 253,870
 Other Loans 2,167,543
 TOTAL LOANS 3,782,350
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -64,479
 Land And Building 0
 Other Fixed Assets 0
 NCUSIF Deposit 193,464
 All Other Assets 0
  TOTAL ASSETS 20,865,997
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 800,000
 Accounts Payable & Other Liabilities 180,206
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 0
 Regular shares 14,224,697
 All Other Shares & Deposits 2,448,621
  TOTAL SHARES & DEPOSITS 16,673,318
  TOTAL LIABILITIES 17,653,524
 Regular Reserve 0
 Other Reserves 1,632,565
 Undivided Earnings 1,579,908
  TOTAL EQUITY 3,212,473
  TOTAL LIABILITIES, SHARES, & EQUITY 20,865,997
INCOME & EXPENSE  
 Loan Income 154,042
 Investment Income 462,498
 Other Income 4,292
 Total Employee Compensation & Benefits 240,833
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 94,706
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 20,000
 Cost of Funds 287,108
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -21,815
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