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.
Name: | MEMBERS ADVANTAGE CREDIT UNION |
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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 |
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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 |
ASSETS: | $ Amount |
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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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