Dec, 31, 2023 — MADISON EDUCATION ASSOC. CREDIT UNION is a federally insured state chartered credit union headquartered in MADISON, FL with 1 branch location and about $6.27 million in total assets. Opened 61 years ago in 1963, MADISON EDUCATION ASSOC. CREDIT UNION has about 795 members offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | MADISON EDUCATION ASSOC. CREDIT UNION |
|---|---|
| Address: (Main Office) | 373 NE Sumter St MADISON, FL 32340-2540 |
| Phone: | (850) 973-3132 |
| Fax: | (850) 973-8444 |
| Website: | https://madisoncuonline.org |
| Branches: | 1 branch locations |
| Members: | 795 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 67630 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1963 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $6,272,374 |
| CEO/Manager: | Gena K Shiver |
| Chairperson: | Joseph M Akerman |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 207,425 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 304,727 |
| Other Loans | 2,252,647 |
| TOTAL LOANS | 2,557,374 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -30,916 |
| Land And Building | 0 |
| Other Fixed Assets | 17 |
| NCUSIF Deposit | 55,486 |
| All Other Assets | 0 |
| TOTAL ASSETS | 6,272,374 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 3,230 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 57,537 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 0 |
| Regular shares | 4,915,285 |
| All Other Shares & Deposits | 364,270 |
| TOTAL SHARES & DEPOSITS | 5,279,555 |
| TOTAL LIABILITIES | 5,340,322 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 932,052 |
| TOTAL EQUITY | 932,052 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 6,272,374 |
| INCOME & EXPENSE | |
| Loan Income | 134,021 |
| Investment Income | 76,868 |
| Other Income | 9,601 |
| Total Employee Compensation & Benefits | 107,473 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 45,869 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 6,296 |
| Cost of Funds | 56,887 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 9,985 |
| ↑ Back to Top | |