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MIAMI FEDERAL CREDIT UNION

Dec, 31, 2023 — MIAMI FEDERAL CREDIT UNION is a federal credit union headquartered in MIAMI, FL with 4 branch locations and about $44.83 million in total assets. Opened 70 years ago in 1954, MIAMI FEDERAL CREDIT UNION has about 2,518 members and employs 10 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: 266080369
Name:MIAMI FEDERAL CREDIT UNION
Address:
(Main Office)
51 SW 1st Ave Ste 604
MIAMI, FL 33130-1611
Phone:(305) 377-1017
Fax:(305) 577-4423
Website:https://www.miamifcu.org
Branches:4 branch locations
Members:2,518
Credit Union Type:Federal Credit Union
Charter Number:9287
Membership Type:Multiple common bond - Primarily federal, state, local government
Corporate Credit Union:No
Year Opened:1954
Last Audited:Jul 01, 2023
FHLB Member:No
Low Income Designation:No
Assets:$44,829,127
CEO/Manager:Colin M Betty
Chairperson:James A Tassone

Call Report

  • Payday Alternative Loans (PAL Loans)
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 3,900,943
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 18,299,074
 Unsecured Loans 2,029,200
 Other Loans 8,460,582
 TOTAL LOANS 28,788,856
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -115,984
 Land And Building 0
 Other Fixed Assets 55,574
 NCUSIF Deposit 318,486
 All Other Assets 0
  TOTAL ASSETS 44,829,127
LIABILITIES & CAPITAL:  
 Dividends Payable 30,176
 Notes & Interest Payable 3,000,000
 Accounts Payable & Other Liabilities 58,693
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 5,891,833
 Regular shares 19,364,293
 All Other Shares & Deposits 11,225,195
  TOTAL SHARES & DEPOSITS 36,481,324
  TOTAL LIABILITIES 39,570,193
 Regular Reserve 0
 Other Reserves 1,290,000
 Undivided Earnings 3,968,934
  TOTAL EQUITY 5,258,934
  TOTAL LIABILITIES, SHARES, & EQUITY 44,829,127
INCOME & EXPENSE  
 Loan Income 1,310,630
 Investment Income 281,284
 Other Income 231,426
 Total Employee Compensation & Benefits 634,057
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 854,316
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 381,738
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 114,888
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