Dec, 31, 2023 — MAYO EMPLOYEES FEDERAL CREDIT UNION is a federal credit union headquartered in ROCHESTER, MN with 9 branch locations and about $1.35 billion in total assets. Opened 90 years ago in 1934, MAYO EMPLOYEES FEDERAL CREDIT UNION has about 73,335 members and employs 126 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | MAYO EMPLOYEES FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 130 23rd Ave SW ROCHESTER, MN 55902 |
| Phone: | (507) 535-1460 |
| Fax: | (507) 293-8112 |
| Website: | https://mayocreditunion.org |
| Branches: | 9 branch locations |
| Members: | 73,335 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 24748 |
|---|---|
| Membership Type: | Multiple common bond - Primarily health care |
| Corporate Credit Union: | No |
| Year Opened: | 1934 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $1,352,215,350 |
| CEO/Manager: | Mary A Hansen |
| Chairperson: | Patrick J Steward |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 52,435,621 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 115,000 |
| Real Estate Loans | 452,867,408 |
| Unsecured Loans | 42,722,925 |
| Other Loans | 183,212,924 |
| TOTAL LOANS | 678,803,257 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -2,587,274 |
| Land And Building | 20,658,154 |
| Other Fixed Assets | 4,089,396 |
| NCUSIF Deposit | 11,618,169 |
| All Other Assets | 15,374 |
| TOTAL ASSETS | 1,352,215,350 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 13,183,832 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 157,711,508 |
| Regular shares | 499,468,738 |
| All Other Shares & Deposits | 544,722,810 |
| TOTAL SHARES & DEPOSITS | 1,201,903,057 |
| TOTAL LIABILITIES | 1,215,109,762 |
| Regular Reserve | 0 |
| Other Reserves | -36,218,102 |
| Undivided Earnings | 173,323,690 |
| TOTAL EQUITY | 137,105,588 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 1,352,215,350 |
| INCOME & EXPENSE | |
| Loan Income | 27,775,873 |
| Investment Income | 8,745,854 |
| Other Income | 2,135,685 |
| Total Employee Compensation & Benefits | 11,471,635 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 11,932,425 |
| Non-operating Income & (Expense) | -49 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 358,907 |
| Cost of Funds | 12,684,598 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 11,046,365 |
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