Dec, 31, 2023 — MERIDIAN MUTUAL FEDERAL CREDIT UNION is a federal credit union headquartered in MERIDIAN, MS with 1 branch location and about $56.42 million in total assets. Opened 71 years ago in 1953, MERIDIAN MUTUAL FEDERAL CREDIT UNION has about 6,728 members and employs 18 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | MERIDIAN MUTUAL FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 809 26th Ave MERIDIAN, MS 39301 |
| Phone: | (601) 693-1900 |
| Fax: | (601) 482-5748 |
| Website: | https://www.meridianmutualfcu.com |
| Branches: | 1 branch locations |
| Members: | 6,728 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 8433 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1953 |
| Last Audited: | Aug 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $56,424,977 |
| CEO/Manager: | Justin Branstetter |
| Chairperson: | Cliff Partridge, Jr. |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 9,201,722 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 5,004,735 |
| Unsecured Loans | 2,151,075 |
| Other Loans | 16,059,117 |
| TOTAL LOANS | 23,214,927 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -178,140 |
| Land And Building | 347,644 |
| Other Fixed Assets | 31,651 |
| NCUSIF Deposit | 477,248 |
| All Other Assets | 0 |
| TOTAL ASSETS | 56,424,977 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 18,076 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 75,924 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 10,223,482 |
| Regular shares | 26,484,614 |
| All Other Shares & Deposits | 12,412,668 |
| TOTAL SHARES & DEPOSITS | 49,120,764 |
| TOTAL LIABILITIES | 49,221,579 |
| Regular Reserve | 0 |
| Other Reserves | -514,936 |
| Undivided Earnings | 7,718,334 |
| TOTAL EQUITY | 7,203,398 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 56,424,977 |
| INCOME & EXPENSE | |
| Loan Income | 1,114,559 |
| Investment Income | 818,100 |
| Other Income | 1,249,563 |
| Total Employee Compensation & Benefits | 750,509 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,294,172 |
| Non-operating Income & (Expense) | 3,901 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 175,939 |
| Cost of Funds | 334,128 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 631,375 |
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