Dec, 31, 2023 — MEMBERS CHOICE CREDIT UNION is a federally insured state chartered credit union headquartered in HOUSTON, TX with 8 branch locations and about $754.86 million in total assets. Opened 83 years ago in 1941, MEMBERS CHOICE CREDIT UNION has about 47,542 members and employs 119 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | MEMBERS CHOICE CREDIT UNION |
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Address: (Main Office) | 18211 Katy Fwy HOUSTON, TX 77094-1395 |
Phone: | (281) 398-9900 |
Fax: | (281) 398-9898 |
Website: | https://www.mccu.com |
Branches: | 8 branch locations |
Members: | 47,542 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 67508 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1941 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $754,859,446 |
CEO/Manager: | Luke Billeri |
Chairperson: | Johnny Williams |
ASSETS: | $ Amount |
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Cash & Equivalents | 31,550,609 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 235,720,514 |
Unsecured Loans | 68,625,698 |
Other Loans | 250,934,251 |
TOTAL LOANS | 555,280,463 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -3,994,690 |
Land And Building | 30,802,005 |
Other Fixed Assets | 0 |
NCUSIF Deposit | 5,999,967 |
All Other Assets | 0 |
TOTAL ASSETS | 754,859,446 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 111,000,000 |
Accounts Payable & Other Liabilities | 8,328,053 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 157,463,959 |
Regular shares | 193,502,234 |
All Other Shares & Deposits | 238,766,706 |
TOTAL SHARES & DEPOSITS | 589,732,899 |
TOTAL LIABILITIES | 709,060,952 |
Regular Reserve | 0 |
Other Reserves | -13,843,301 |
Undivided Earnings | 59,641,795 |
TOTAL EQUITY | 45,798,494 |
TOTAL LIABILITIES, SHARES, & EQUITY | 754,859,446 |
INCOME & EXPENSE | |
Loan Income | 34,689,099 |
Investment Income | 3,669,934 |
Other Income | 2,556,277 |
Total Employee Compensation & Benefits | 11,136,274 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 17,506,428 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 5,877,617 |
Cost of Funds | 10,900,387 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 113,845 |
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