Dec, 31, 2023 — MIDDLETOWN AREA SCHOOLS CREDIT UNION is a federally insured state chartered credit union headquartered in MIDDLETOWN, OH with 1 branch location and about $9.81 million in total assets. Opened 87 years ago in 1937, MIDDLETOWN AREA SCHOOLS CREDIT UNION has about 1,004 members and employs 5 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | MIDDLETOWN AREA SCHOOLS CREDIT UNION |
|---|---|
| Address: (Main Office) | 1730 Central Ave MIDDLETOWN, OH 45044-4140 |
| Phone: | (513) 422-2392 |
| Fax: | (513) 422-1143 |
| Website: | https://www.mascu.com |
| Branches: | 1 branch locations |
| Members: | 1,004 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 62877 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1937 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $9,808,978 |
| CEO/Manager: | Jamie L Herron |
| Chairperson: | Martha Morgan |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,675,249 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 880,368 |
| Other Loans | 4,199,218 |
| TOTAL LOANS | 5,079,586 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -21,343 |
| Land And Building | 85,827 |
| Other Fixed Assets | 8,431 |
| NCUSIF Deposit | 80,318 |
| All Other Assets | 0 |
| TOTAL ASSETS | 9,808,978 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 23,574 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 1,263,640 |
| Regular shares | 6,758,258 |
| All Other Shares & Deposits | 481,338 |
| TOTAL SHARES & DEPOSITS | 8,503,235 |
| TOTAL LIABILITIES | 8,526,809 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 1,282,169 |
| TOTAL EQUITY | 1,282,169 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 9,808,978 |
| INCOME & EXPENSE | |
| Loan Income | 274,811 |
| Investment Income | 181,667 |
| Other Income | 96,494 |
| Total Employee Compensation & Benefits | 157,258 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 304,986 |
| Non-operating Income & (Expense) | 63,730 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 23,500 |
| Cost of Funds | 16,893 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 149,834 |
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