Dec, 31, 2023 — MORRISONS COVE 1ST FEDERAL CREDIT UNION is a federal credit union headquartered in ROARING SPRING, PA with 1 branch location and about $53.79 million in total assets. Opened 70 years ago in 1954, MORRISONS COVE 1ST FEDERAL CREDIT UNION has about 4,499 members and employs 10 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | MORRISONS COVE 1ST FEDERAL CREDIT UNION |
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Address: (Main Office) | 7533 Woodbury Pike ROARING SPRING, PA 16673 |
Phone: | (814) 224-2744 |
Fax: | (814) 224-5080 |
Website: | https://www.mcove1stfcu.com |
Branches: | 1 branch locations |
Members: | 4,499 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 9681 |
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Membership Type: | Multiple common bond - Primarily other manufacturing |
Corporate Credit Union: | No |
Year Opened: | 1954 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $53,788,133 |
CEO/Manager: | Lynnette Hamm |
Chairperson: | Dianne Churbock |
ASSETS: | $ Amount |
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Cash & Equivalents | 1,647,448 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 7,488,280 |
Unsecured Loans | 3,762,508 |
Other Loans | 12,067,798 |
TOTAL LOANS | 23,318,586 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -160,886 |
Land And Building | 558,881 |
Other Fixed Assets | 33,815 |
NCUSIF Deposit | 497,428 |
All Other Assets | 0 |
TOTAL ASSETS | 53,788,133 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 270,446 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 8,701,079 |
Regular shares | 30,413,844 |
All Other Shares & Deposits | 9,529,019 |
TOTAL SHARES & DEPOSITS | 48,643,942 |
TOTAL LIABILITIES | 48,914,388 |
Regular Reserve | 0 |
Other Reserves | 0 |
Undivided Earnings | 4,873,745 |
TOTAL EQUITY | 4,873,745 |
TOTAL LIABILITIES, SHARES, & EQUITY | 53,788,133 |
INCOME & EXPENSE | |
Loan Income | 869,096 |
Investment Income | 660,599 |
Other Income | 43,886 |
Total Employee Compensation & Benefits | 579,932 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 611,052 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 62,127 |
Cost of Funds | 104,404 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 352,484 |
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