Dec, 31, 2023 — MID-CITIES CREDIT UNION is a non-federally insured state credit union headquartered in COMPTON, CA with 1 branch location and about $18.46 million in total assets. Opened 69 years ago in 1955, MID-CITIES CREDIT UNION has about 3,423 members and employs 6 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | MID-CITIES CREDIT UNION |
|---|---|
| Address: (Main Office) | 325 S Santa Fe Ave COMPTON, CA 90221 |
| Phone: | (310) 638-5147 |
| Fax: | (310) 638-8650 |
| Website: | https://www.midcitiesfcu.org |
| Branches: | 1 branch locations |
| Members: | 3,423 |
| Credit Union Type: | Non-Federally Insured State Credit Union |
| Charter Number: | 95073 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1955 |
| Last Audited: | Mar 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $18,459,961 |
| CEO/Manager: | Conrad Tan |
| Chairperson: | Floyd Knox |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,280,700 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 2,508,570 |
| Unsecured Loans | 1,655,755 |
| Other Loans | 3,179,333 |
| TOTAL LOANS | 7,343,658 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -159,746 |
| Land And Building | 107,921 |
| Other Fixed Assets | 44,692 |
| NCUSIF Deposit | 0 |
| All Other Assets | 0 |
| TOTAL ASSETS | 18,459,961 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 104,379 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 2,595,457 |
| Regular shares | 11,809,219 |
| All Other Shares & Deposits | 2,382,853 |
| TOTAL SHARES & DEPOSITS | 16,787,528 |
| TOTAL LIABILITIES | 16,891,907 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 1,568,054 |
| TOTAL EQUITY | 1,568,054 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 18,459,961 |
| INCOME & EXPENSE | |
| Loan Income | 454,140 |
| Investment Income | 342,447 |
| Other Income | 153,079 |
| Total Employee Compensation & Benefits | 304,581 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 766,833 |
| Non-operating Income & (Expense) | 2,987 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 71,176 |
| Cost of Funds | 34,992 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -167,317 |
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