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National Credit Union Service Organization

MEMORIAL EMPLOYEES FEDERAL CREDIT UNION

Dec, 31, 2023 — MEMORIAL EMPLOYEES FEDERAL CREDIT UNION is a federal credit union headquartered in HOLLYWOOD, FL with 7 branch locations and about $91.42 million in total assets. Opened 53 years ago in 1971, MEMORIAL EMPLOYEES FEDERAL CREDIT UNION has about 8,859 members and employs 19 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: 267078736
Name:MEMORIAL EMPLOYEES FEDERAL CREDIT UNION
Address:
(Main Office)
3501 JOHNSON STREET
HOLLYWOOD, FL 33021
Phone:(954) 265-5862
Fax:(954) 265-5857
Website:https://www.mefcu.org
Branches:7 branch locations
Members:8,859
Credit Union Type:Federal Credit Union
Charter Number:20468
Membership Type:Multiple common bond - Primarily health care
Corporate Credit Union:No
Year Opened:1971
Last Audited:Mar 01, 2022
FHLB Member:Yes
Low Income Designation:No
Assets:$91,419,244
CEO/Manager:George Glasser
Chairperson:William Wheatley

Call Report

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 8,139,475
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 2,355,036
 Unsecured Loans 3,715,213
 Other Loans 28,795,891
 TOTAL LOANS 34,866,140
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -323,431
 Land And Building 0
 Other Fixed Assets 90,994
 NCUSIF Deposit 779,742
 All Other Assets 0
  TOTAL ASSETS 91,419,244
LIABILITIES & CAPITAL:  
 Dividends Payable 913
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 1,803,199
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 12,761,400
 Regular shares 62,880,234
 All Other Shares & Deposits 10,836,078
  TOTAL SHARES & DEPOSITS 86,477,712
  TOTAL LIABILITIES 88,281,824
 Regular Reserve 0
 Other Reserves -5,666,802
 Undivided Earnings 8,804,222
  TOTAL EQUITY 3,137,420
  TOTAL LIABILITIES, SHARES, & EQUITY 91,419,244
INCOME & EXPENSE  
 Loan Income 1,276,947
 Investment Income 620,675
 Other Income 510,496
 Total Employee Compensation & Benefits 1,150,208
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 897,438
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 42,985
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 317,487
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