Dec, 31, 2023 — MONROE COUNTY COMMUNITY CREDIT UNION is a federally insured state chartered credit union headquartered in MONROE, MI with 6 branch locations and about $339.91 million in total assets. Opened 70 years ago in 1954, MONROE COUNTY COMMUNITY CREDIT UNION has about 29,884 members and employs 78 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | MONROE COUNTY COMMUNITY CREDIT UNION |
|---|---|
| Address: (Main Office) | 715 N Telegraph Rd MONROE, MI 48162-5130 |
| Phone: | (734) 242-3222 |
| Fax: | (734) 242-6911 |
| Website: | https://www.monroecommunitycu.org |
| Branches: | 6 branch locations |
| Members: | 29,884 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 61748 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1954 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $339,911,191 |
| CEO/Manager: | Kristine Brenner |
| Chairperson: | Gary Sievert |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 25,660,112 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 99,612,310 |
| Unsecured Loans | 15,490,976 |
| Other Loans | 97,174,736 |
| TOTAL LOANS | 212,375,822 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,561,476 |
| Land And Building | 7,158,907 |
| Other Fixed Assets | 959,786 |
| NCUSIF Deposit | 3,017,993 |
| All Other Assets | 0 |
| TOTAL ASSETS | 339,911,191 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 2,562,699 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 60,672,376 |
| Regular shares | 139,232,530 |
| All Other Shares & Deposits | 108,721,686 |
| TOTAL SHARES & DEPOSITS | 308,626,592 |
| TOTAL LIABILITIES | 311,189,291 |
| Regular Reserve | 0 |
| Other Reserves | -2,065,809 |
| Undivided Earnings | 30,787,709 |
| TOTAL EQUITY | 28,721,900 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 339,911,191 |
| INCOME & EXPENSE | |
| Loan Income | 9,777,128 |
| Investment Income | 2,334,519 |
| Other Income | 2,208,784 |
| Total Employee Compensation & Benefits | 5,642,362 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 5,312,581 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 558,000 |
| Cost of Funds | 1,491,464 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 4,583,223 |
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