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.
Name: | MUTUAL SECURITY CREDIT UNION |
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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 |
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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 |
ASSETS: | $ Amount |
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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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