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MEMBERS ADVANTAGE CREDIT UNION

Dec, 31, 2023 — MEMBERS ADVANTAGE CREDIT UNION is a federally insured state chartered credit union headquartered in MICHIGAN CITY, IN with 3 branch locations and about $121.48 million in total assets. Opened 62 years ago in 1962, MEMBERS ADVANTAGE CREDIT UNION has about 8,198 members and employs 23 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: 271291460
Name:MEMBERS ADVANTAGE CREDIT UNION
Address:
(Main Office)
3064 Ohio St
MICHIGAN CITY, IN 46360-6866
Phone:(219) 874-6943
Fax:(219) 873-0568
Website:https://www.macuonline.org
Branches:3 branch locations
Members:8,198
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:68242
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1962
Last Audited:Dec 01, 2022
FHLB Member:Yes
Low Income Designation:No
Assets:$121,476,294
CEO/Manager:Frank Beachnau
Chairperson:Michael Palmer

Call Report

  • Credit Builder
  • First Time Homebuyer Program
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 5,726,503
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 29,162,837
 Unsecured Loans 411,926
 Other Loans 21,849,407
 TOTAL LOANS 51,424,169
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -152,494
 Land And Building 2,798,892
 Other Fixed Assets 236,360
 NCUSIF Deposit 1,119,108
 All Other Assets 0
  TOTAL ASSETS 121,476,294
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 971,265
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 22,623,607
 Regular shares 55,305,728
 All Other Shares & Deposits 34,470,330
  TOTAL SHARES & DEPOSITS 112,399,666
  TOTAL LIABILITIES 113,370,931
 Regular Reserve 0
 Other Reserves -3,550,885
 Undivided Earnings 11,656,248
  TOTAL EQUITY 8,105,363
  TOTAL LIABILITIES, SHARES, & EQUITY 121,476,294
INCOME & EXPENSE  
 Loan Income 2,356,327
 Investment Income 1,162,081
 Other Income 824,448
 Total Employee Compensation & Benefits 1,530,634
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 2,576,950
 Non-operating Income & (Expense) 307,396
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense -6,472
 Cost of Funds 735,096
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 543,393
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