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METRO FEDERAL CREDIT UNION

Dec, 31, 2023 — METRO FEDERAL CREDIT UNION is a federal credit union headquartered in ARLINGTON HEIGHTS, IL with 1 branch location and about $66.65 million in total assets. Opened 51 years ago in 1973, METRO FEDERAL CREDIT UNION has about 3,244 members and employs 13 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: 271975401
Name:METRO FEDERAL CREDIT UNION
Address:
(Main Office)
2440 E Rand Rd
ARLINGTON HEIGHTS, IL 60004-5802
Phone:(847) 670-0456
Fax:(847) 670-0401
Website:https://www.mcu.org
Branches:1 branch locations
Members:3,244
Credit Union Type:Federal Credit Union
Charter Number:21326
Membership Type:Community credit unions, urban or rural, other than those designated 'low income'
Corporate Credit Union:No
Year Opened:1973
Last Audited:Sep 01, 2023
FHLB Member:No
Low Income Designation:No
Assets:$66,652,652
CEO/Manager:Salvatore Fragale
Chairperson:Donna Wilson

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Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 6,343,020
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 19,585,643
 Unsecured Loans 3,841,615
 Other Loans 16,184,754
 TOTAL LOANS 39,612,012
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -336,725
 Land And Building 1,353,517
 Other Fixed Assets 57,575
 NCUSIF Deposit 578,224
 All Other Assets 0
  TOTAL ASSETS 66,652,652
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 1,054,618
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 10,195,696
 Regular shares 33,736,179
 All Other Shares & Deposits 15,836,001
  TOTAL SHARES & DEPOSITS 59,767,877
  TOTAL LIABILITIES 60,822,495
 Regular Reserve 0
 Other Reserves 790,838
 Undivided Earnings 5,039,319
  TOTAL EQUITY 5,830,157
  TOTAL LIABILITIES, SHARES, & EQUITY 66,652,652
INCOME & EXPENSE  
 Loan Income 2,023,010
 Investment Income 689,888
 Other Income 340,823
 Total Employee Compensation & Benefits 1,281,267
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 845,138
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 48,000
 Cost of Funds 290,632
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 721,539
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