Dec, 31, 2023 — 1ST MIDAMERICA CREDIT UNION is a federally insured state chartered credit union headquartered in BETHALTO, IL with 10 branch locations and about $964.49 million in total assets. Opened 90 years ago in 1934, 1ST MIDAMERICA CREDIT UNION has about 63,126 members and employs 188 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | 1ST MIDAMERICA CREDIT UNION |
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Address: (Main Office) | 731 E Bethalto Dr BETHALTO, IL 62010 |
Phone: | (618) 258-3168 |
Fax: | (618) 258-6003 |
Website: | https://www.1stmidamerica.org |
Branches: | 10 branch locations |
Members: | 63,126 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 63932 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1934 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $964,490,813 |
CEO/Manager: | Alan Meyer |
Chairperson: | Rosemary Gibson |
ASSETS: | $ Amount |
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Cash & Equivalents | 16,116,820 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 215,950 |
Real Estate Loans | 313,783,836 |
Unsecured Loans | 46,779,906 |
Other Loans | 440,228,877 |
TOTAL LOANS | 800,792,619 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -8,788,352 |
Land And Building | 22,710,996 |
Other Fixed Assets | 4,512,960 |
NCUSIF Deposit | 7,291,974 |
All Other Assets | 0 |
TOTAL ASSETS | 964,490,813 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 1,183,497 |
Notes & Interest Payable | 89,580,000 |
Accounts Payable & Other Liabilities | 6,297,309 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 145,018,351 |
Regular shares | 280,080,713 |
All Other Shares & Deposits | 340,046,202 |
TOTAL SHARES & DEPOSITS | 765,145,266 |
TOTAL LIABILITIES | 862,324,099 |
Regular Reserve | 0 |
Other Reserves | -1,439,306 |
Undivided Earnings | 103,606,020 |
TOTAL EQUITY | 102,166,714 |
TOTAL LIABILITIES, SHARES, & EQUITY | 964,490,813 |
INCOME & EXPENSE | |
Loan Income | 36,492,059 |
Investment Income | 5,703,616 |
Other Income | 5,373,300 |
Total Employee Compensation & Benefits | 15,054,806 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 17,324,403 |
Non-operating Income & (Expense) | 38,446 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 2,249,055 |
Cost of Funds | 16,403,180 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 4,655,938 |
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