Dec, 31, 2023 — MIDWEST FAMILY FEDERAL CREDIT UNION is a federal credit union headquartered in PORTAGE, IN with 1 branch location and about $38.48 million in total assets. Opened 62 years ago in 1962, MIDWEST FAMILY FEDERAL CREDIT UNION has about 2,700 members and employs 9 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | MIDWEST FAMILY FEDERAL CREDIT UNION |
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Address: (Main Office) | 2832 WILLOWCREEK RD PORTAGE, IN 46368 |
Phone: | (219) 763-5640 |
Fax: | (219) 763-5102 |
Website: | https://www.mwffcu.org |
Branches: | 1 branch locations |
Members: | 2,700 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 15007 |
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Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
Corporate Credit Union: | No |
Year Opened: | 1962 |
Last Audited: | Sep 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $38,475,983 |
CEO/Manager: | Robin L Bowman |
Chairperson: | Kurt Knutsen |
ASSETS: | $ Amount |
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Cash & Equivalents | 460,052 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 5,302,068 |
Unsecured Loans | 1,456,132 |
Other Loans | 13,712,755 |
TOTAL LOANS | 20,470,955 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -156,581 |
Land And Building | 1,041,781 |
Other Fixed Assets | 8,437 |
NCUSIF Deposit | 377,950 |
All Other Assets | 0 |
TOTAL ASSETS | 38,475,983 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 500,000 |
Accounts Payable & Other Liabilities | -105,671 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 7,882,203 |
Regular shares | 24,587,847 |
All Other Shares & Deposits | 2,393,803 |
TOTAL SHARES & DEPOSITS | 34,863,853 |
TOTAL LIABILITIES | 35,258,182 |
Regular Reserve | 0 |
Other Reserves | 0 |
Undivided Earnings | 3,217,801 |
TOTAL EQUITY | 3,217,801 |
TOTAL LIABILITIES, SHARES, & EQUITY | 38,475,983 |
INCOME & EXPENSE | |
Loan Income | 823,163 |
Investment Income | 440,988 |
Other Income | 400,018 |
Total Employee Compensation & Benefits | 558,049 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 831,069 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | -14,083 |
Cost of Funds | 154,786 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 220,836 |
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