Dec, 31, 2023 — MOREHEAD COMMUNITY FEDERAL CREDIT UNION is a federal credit union headquartered in MOREHEAD, KY with 1 branch location and about $52.02 million in total assets. Opened 46 years ago in 1978, MOREHEAD COMMUNITY FEDERAL CREDIT UNION has about 4,181 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: | MOREHEAD COMMUNITY FEDERAL CREDIT UNION |
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Address: (Main Office) | 503 W Main St MOREHEAD, KY 40351-1539 |
Phone: | (606) 784-2201 |
Fax: | (606) 784-2202 |
Website: | https://moreheadcommunity.com |
Branches: | 1 branch locations |
Members: | 4,181 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 23070 |
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Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
Corporate Credit Union: | No |
Year Opened: | 1978 |
Last Audited: | Sep 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $52,019,978 |
CEO/Manager: | Mike Alcorn |
Chairperson: | Darrell Smith |
ASSETS: | $ Amount |
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Cash & Equivalents | 3,282,912 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 7,057,667 |
Unsecured Loans | 1,425,436 |
Other Loans | 14,710,089 |
TOTAL LOANS | 23,193,191 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -165,081 |
Land And Building | 542,107 |
Other Fixed Assets | 56,094 |
NCUSIF Deposit | 446,533 |
All Other Assets | 0 |
TOTAL ASSETS | 52,019,978 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 417,029 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 5,806,883 |
Regular shares | 16,872,049 |
All Other Shares & Deposits | 22,810,407 |
TOTAL SHARES & DEPOSITS | 45,489,339 |
TOTAL LIABILITIES | 45,910,368 |
Regular Reserve | 0 |
Other Reserves | -304,510 |
Undivided Earnings | 6,414,120 |
TOTAL EQUITY | 6,109,610 |
TOTAL LIABILITIES, SHARES, & EQUITY | 52,019,978 |
INCOME & EXPENSE | |
Loan Income | 1,288,884 |
Investment Income | 763,117 |
Other Income | 537,423 |
Total Employee Compensation & Benefits | 689,787 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 638,122 |
Non-operating Income & (Expense) | -3,407 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 34,500 |
Cost of Funds | 646,007 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 635,619 |
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