MIDWEST COMMUNITY CREDIT UNION is no longer an active credit union according to the NCUA. If available, you can view their website at https://www.midwestcreditunion.com for more information.
Dec, 31, 2023 — MIDWEST COMMUNITY CREDIT UNION is a federally insured state chartered credit union headquartered in Sioux City, IA with 1 branch location and about $46.06 million in total assets. Opened 69 years ago in 1955, MIDWEST COMMUNITY CREDIT UNION has about 3,188 members and employs 6 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | MIDWEST COMMUNITY CREDIT UNION |
|---|---|
| Address: (Main Office) | 1909 Old South Palmetto St Sioux City, IA 51106 |
| Phone: | (712) 276-1328 |
| Fax: | (712) 276-1743 |
| Website: | https://www.midwestcreditunion.com |
| Branches: | 1 branch locations |
| Members: | 3,188 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 63494 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1955 |
| Last Audited: | Sep 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $46,057,782 |
| CEO/Manager: | Paddy A Friedrichsen |
| Chairperson: | Mary K Augustine |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 5,654,105 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 4,477,625 |
| Unsecured Loans | 575,411 |
| Other Loans | 7,127,854 |
| TOTAL LOANS | 12,180,890 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -70,489 |
| Land And Building | 75,818 |
| Other Fixed Assets | 32,892 |
| NCUSIF Deposit | 390,876 |
| All Other Assets | 0 |
| TOTAL ASSETS | 46,057,782 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 267,091 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 10,101,382 |
| Regular shares | 26,040,678 |
| All Other Shares & Deposits | 6,613,567 |
| TOTAL SHARES & DEPOSITS | 42,755,627 |
| TOTAL LIABILITIES | 43,022,718 |
| Regular Reserve | 0 |
| Other Reserves | 911,929 |
| Undivided Earnings | 2,123,135 |
| TOTAL EQUITY | 3,035,064 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 46,057,782 |
| INCOME & EXPENSE | |
| Loan Income | 354,904 |
| Investment Income | 211,347 |
| Other Income | 47,139 |
| Total Employee Compensation & Benefits | 263,487 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 368,600 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 43,000 |
| Cost of Funds | 29,496 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 57,221 |
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