Dec, 31, 2023 — MIDWEST FAMILY FEDERAL CREDIT UNION is a federal credit union headquartered in PORTAGE, IN with 1 branch location and about $38.48 million in total assets. Opened 62 years ago in 1962, MIDWEST FAMILY FEDERAL CREDIT UNION has about 2,700 members and employs 9 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 FAMILY FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 2832 WILLOWCREEK RD PORTAGE, IN 46368 |
| Phone: | (219) 763-5640 |
| Fax: | (219) 763-5102 |
| Website: | https://www.mwffcu.org |
| Branches: | 1 branch locations |
| Members: | 2,700 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 15007 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1962 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $38,475,983 |
| CEO/Manager: | Robin L Bowman |
| Chairperson: | Kurt Knutsen |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 460,052 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 5,302,068 |
| Unsecured Loans | 1,456,132 |
| Other Loans | 13,712,755 |
| TOTAL LOANS | 20,470,955 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -156,581 |
| Land And Building | 1,041,781 |
| Other Fixed Assets | 8,437 |
| NCUSIF Deposit | 377,950 |
| All Other Assets | 0 |
| TOTAL ASSETS | 38,475,983 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 500,000 |
| Accounts Payable & Other Liabilities | -105,671 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 7,882,203 |
| Regular shares | 24,587,847 |
| All Other Shares & Deposits | 2,393,803 |
| TOTAL SHARES & DEPOSITS | 34,863,853 |
| TOTAL LIABILITIES | 35,258,182 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 3,217,801 |
| TOTAL EQUITY | 3,217,801 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 38,475,983 |
| INCOME & EXPENSE | |
| Loan Income | 823,163 |
| Investment Income | 440,988 |
| Other Income | 400,018 |
| Total Employee Compensation & Benefits | 558,049 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 831,069 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | -14,083 |
| Cost of Funds | 154,786 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 220,836 |
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