Dec, 31, 2023 — MEMORIAL EMPLOYEES FINANCIAL CREDIT UNION is a federally insured state chartered credit union headquartered in HOLLYWOOD, FL with 7 branch locations and about $89.42 million in total assets. Opened 53 years ago in 1971, MEMORIAL EMPLOYEES FINANCIAL CREDIT UNION has about 9,050 members and employs 20 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | MEMORIAL EMPLOYEES FINANCIAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 3501 Johnson St HOLLYWOOD, FL 33021-5421 |
| Phone: | (954) 265-5862 |
| Fax: | (954) 265-5857 |
| Website: | https://www.mefcu.org |
| Branches: | 7 branch locations |
| Members: | 9,050 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 68738 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1971 |
| Last Audited: | Mar 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $89,416,526 |
| CEO/Manager: | George Glasser |
| Chairperson: | William Wheatley |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 2,855,010 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 3,415,400 |
| Unsecured Loans | 3,563,942 |
| Other Loans | 39,331,634 |
| TOTAL LOANS | 46,310,976 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -308,906 |
| Land And Building | 0 |
| Other Fixed Assets | 77,313 |
| NCUSIF Deposit | 806,144 |
| All Other Assets | 20,575 |
| TOTAL ASSETS | 89,416,526 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 189,027 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 1,833,774 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 10,415,033 |
| Regular shares | 52,056,522 |
| All Other Shares & Deposits | 20,066,157 |
| TOTAL SHARES & DEPOSITS | 82,537,712 |
| TOTAL LIABILITIES | 84,560,513 |
| Regular Reserve | 0 |
| Other Reserves | -4,761,962 |
| Undivided Earnings | 9,617,975 |
| TOTAL EQUITY | 4,856,013 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 89,416,526 |
| INCOME & EXPENSE | |
| Loan Income | 2,361,463 |
| Investment Income | 862,253 |
| Other Income | 735,581 |
| Total Employee Compensation & Benefits | 1,497,918 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,338,538 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 105,500 |
| Cost of Funds | 360,324 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 657,017 |
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