Dec, 31, 2023 — MARSHLAND CREDIT UNION is a federally insured state chartered credit union headquartered in BRUNSWICK, GA with 5 branch locations and about $222.74 million in total assets. Opened 71 years ago in 1953, MARSHLAND CREDIT UNION has about 19,139 members and employs 59 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | MARSHLAND CREDIT UNION |
|---|---|
| Address: (Main Office) | 3650 Community Rd BRUNSWICK, GA 31520 |
| Phone: | (912) 279-2000 |
| Fax: | (912) 262-9397 |
| Website: | https://www.marshlandcu.com |
| Branches: | 5 branch locations |
| Members: | 19,139 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 68714 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1953 |
| Last Audited: | Jun 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $222,738,305 |
| CEO/Manager: | Mary Jenrette |
| Chairperson: | Paul McKenzie, SR |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 13,860,029 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 110,000 |
| Real Estate Loans | 57,576,300 |
| Unsecured Loans | 8,330,571 |
| Other Loans | 81,575,497 |
| TOTAL LOANS | 147,482,368 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -860,070 |
| Land And Building | 3,485,337 |
| Other Fixed Assets | 1,553,158 |
| NCUSIF Deposit | 1,915,047 |
| All Other Assets | 19,608 |
| TOTAL ASSETS | 222,738,305 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 597,360 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 3,312,650 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 48,005,205 |
| Regular shares | 71,797,537 |
| All Other Shares & Deposits | 83,095,376 |
| TOTAL SHARES & DEPOSITS | 202,898,118 |
| TOTAL LIABILITIES | 206,808,128 |
| Regular Reserve | 0 |
| Other Reserves | -1,859,897 |
| Undivided Earnings | 17,790,074 |
| TOTAL EQUITY | 15,930,177 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 222,738,305 |
| INCOME & EXPENSE | |
| Loan Income | 7,544,664 |
| Investment Income | 1,808,100 |
| Other Income | 2,940,452 |
| Total Employee Compensation & Benefits | 4,723,732 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 4,123,855 |
| Non-operating Income & (Expense) | -42,360 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 400,000 |
| Cost of Funds | 2,216,878 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,471,338 |
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