Dec, 31, 2023 — MOUNTAIN EMPIRE FEDERAL CREDIT UNION is a federal credit union headquartered in MARION, VA with 1 branch location and about $24.55 million in total assets. Opened 72 years ago in 1952, MOUNTAIN EMPIRE FEDERAL CREDIT UNION has about 3,902 members and employs 11 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | MOUNTAIN EMPIRE FEDERAL CREDIT UNION |
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Address: (Main Office) | 1413 N MAIN ST MARION, VA 24354-4315 |
Phone: | (276) 782-9639 |
Fax: | (276) 783-9303 |
Website: | https://www.mountainempirefcu.org |
Branches: | 1 branch locations |
Members: | 3,902 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 8197 |
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Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
Corporate Credit Union: | No |
Year Opened: | 1952 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $24,552,045 |
CEO/Manager: | JEANNIE HUNT |
Chairperson: | AMANDA CURRIN |
ASSETS: | $ Amount |
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Cash & Equivalents | 4,182,117 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 2,298,128 |
Unsecured Loans | 1,410,252 |
Other Loans | 10,147,415 |
TOTAL LOANS | 13,855,795 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -44,053 |
Land And Building | 340,786 |
Other Fixed Assets | 31,201 |
NCUSIF Deposit | 214,992 |
All Other Assets | 22,680 |
TOTAL ASSETS | 24,552,045 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 8,433 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 412,575 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 4,207,540 |
Regular shares | 14,906,815 |
All Other Shares & Deposits | 2,504,139 |
TOTAL SHARES & DEPOSITS | 21,618,493 |
TOTAL LIABILITIES | 22,039,501 |
Regular Reserve | 0 |
Other Reserves | 0 |
Undivided Earnings | 2,512,544 |
TOTAL EQUITY | 2,512,544 |
TOTAL LIABILITIES, SHARES, & EQUITY | 24,552,045 |
INCOME & EXPENSE | |
Loan Income | 841,807 |
Investment Income | 154,021 |
Other Income | 111,010 |
Total Employee Compensation & Benefits | 461,494 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 485,228 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | -35,805 |
Cost of Funds | 33,425 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 316,200 |
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