Dec, 31, 2023 — MEMBERS 1ST CREDIT UNION is a federally insured state chartered credit union headquartered in REDDING, CA with 6 branch locations and about $317.74 million in total assets. Opened 88 years ago in 1936, MEMBERS 1ST CREDIT UNION has about 24,073 members and employs 64 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | MEMBERS 1ST CREDIT UNION |
---|---|
Address: (Main Office) | 4710 Mountain Lakes Blvd REDDING, CA 96003 |
Phone: | (530) 222-6060 |
Fax: | (530) 221-5532 |
Website: | https://www.m1cu.org |
Branches: | 6 branch locations |
Members: | 24,073 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 62677 |
---|---|
Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1936 |
Last Audited: | Jun 01, 2023 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $317,741,113 |
CEO/Manager: | Caroline Redmann |
Chairperson: | Ken Reed |
ASSETS: | $ Amount |
---|---|
Cash & Equivalents | 23,012,881 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 82,050,154 |
Unsecured Loans | 9,133,709 |
Other Loans | 154,560,609 |
TOTAL LOANS | 249,063,175 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -972,323 |
Land And Building | 5,777,213 |
Other Fixed Assets | 816,887 |
NCUSIF Deposit | 2,832,843 |
All Other Assets | 182,526 |
TOTAL ASSETS | 317,741,113 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 3,983,357 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 58,373,207 |
Regular shares | 132,027,883 |
All Other Shares & Deposits | 95,060,483 |
TOTAL SHARES & DEPOSITS | 285,461,572 |
TOTAL LIABILITIES | 289,444,929 |
Regular Reserve | 0 |
Other Reserves | 3,894,842 |
Undivided Earnings | 24,401,342 |
TOTAL EQUITY | 28,296,184 |
TOTAL LIABILITIES, SHARES, & EQUITY | 317,741,113 |
INCOME & EXPENSE | |
Loan Income | 10,448,742 |
Investment Income | 1,015,738 |
Other Income | 1,029,734 |
Total Employee Compensation & Benefits | 5,383,234 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 4,647,799 |
Non-operating Income & (Expense) | 111,752 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 526,989 |
Cost of Funds | 1,445,500 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 2,756,114 |
↑ Back to Top |