Dec, 31, 2023 — MIDWEST COALITION OF LABOR CREDIT UNION is a federally insured state chartered credit union headquartered in COUNTRYSIDE, IL with 1 branch location and about $73.47 million in total assets. Opened 50 years ago in 1974, MIDWEST COALITION OF LABOR CREDIT UNION has about 7,775 members and employs 11 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 COALITION OF LABOR CREDIT UNION |
|---|---|
| Address: (Main Office) | 6240 Joliet Rd COUNTRYSIDE, IL 60525 |
| Phone: | (708) 482-9606 |
| Fax: | (708) 482-9449 |
| Website: | https://www.mclcu.org |
| Branches: | 1 branch locations |
| Members: | 7,775 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 61847 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1974 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $73,470,605 |
| CEO/Manager: | Charles Martin |
| Chairperson: | Steven M Cisco |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 621,763 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 20,283,880 |
| Unsecured Loans | 7,029,232 |
| Other Loans | 21,589,806 |
| TOTAL LOANS | 48,902,918 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -444,319 |
| Land And Building | 0 |
| Other Fixed Assets | 40,896 |
| NCUSIF Deposit | 589,374 |
| All Other Assets | 0 |
| TOTAL ASSETS | 73,470,605 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 845,000 |
| Accounts Payable & Other Liabilities | 114,202 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 9,393,150 |
| Regular shares | 38,819,631 |
| All Other Shares & Deposits | 15,278,493 |
| TOTAL SHARES & DEPOSITS | 63,491,274 |
| TOTAL LIABILITIES | 64,450,476 |
| Regular Reserve | 0 |
| Other Reserves | 870,481 |
| Undivided Earnings | 8,149,648 |
| TOTAL EQUITY | 9,020,129 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 73,470,605 |
| INCOME & EXPENSE | |
| Loan Income | 2,601,358 |
| Investment Income | 521,324 |
| Other Income | 490,457 |
| Total Employee Compensation & Benefits | 1,150,332 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 948,895 |
| Non-operating Income & (Expense) | 195,249 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 280,000 |
| Cost of Funds | 290,841 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,152,414 |
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