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MUTUAL SECURITY CREDIT UNION

Dec, 31, 2023 — MUTUAL SECURITY CREDIT UNION is a federally insured state chartered credit union headquartered in SHELTON, CT with 10 branch locations and about $357.47 million in total assets. Opened 42 years ago in 1982, MUTUAL SECURITY CREDIT UNION has about 27,230 members and employs 71 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 221174508
Name:MUTUAL SECURITY CREDIT UNION
Address:
(Main Office)
1000 Bridgeport Ave
SHELTON, CT 06484-4660
Phone:(203) 402-7400
Fax:(203) 402-7410
Website:https://www.mscu.net
Branches:10 branch locations
Members:27,230
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:68479
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1982
Last Audited:Mar 01, 2023
FHLB Member:Yes
Low Income Designation:No
Assets:$357,474,049
CEO/Manager:Henry Baum
Chairperson:BRUCE M LIKLY

Call Report

  • First Time Homebuyer Program
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 8,133,799
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 183,828,378
 Unsecured Loans 31,673,485
 Other Loans 108,450,419
 TOTAL LOANS 323,952,282
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -1,458,025
 Land And Building 3,863,703
 Other Fixed Assets 1,111,805
 NCUSIF Deposit 2,952,512
 All Other Assets 9,628
  TOTAL ASSETS 357,474,049
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 14,957,000
 Accounts Payable & Other Liabilities 5,381,365
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 66,208,323
 Regular shares 99,657,439
 All Other Shares & Deposits 141,033,601
  TOTAL SHARES & DEPOSITS 306,899,362
  TOTAL LIABILITIES 327,237,727
 Regular Reserve 0
 Other Reserves 349,000
 Undivided Earnings 29,887,322
  TOTAL EQUITY 30,236,322
  TOTAL LIABILITIES, SHARES, & EQUITY 357,474,049
INCOME & EXPENSE  
 Loan Income 13,870,047
 Investment Income 883,727
 Other Income 2,846,838
 Total Employee Compensation & Benefits 5,501,641
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 6,227,050
 Non-operating Income & (Expense) 23
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 519,845
 Cost of Funds 4,362,666
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 539,205
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