Dec, 31, 2023 — MEMBERS FIRST CREDIT UNION is a federally insured state chartered credit union headquartered in CORPUS CHRISTI, TX with 4 branch locations and about $175.25 million in total assets. Opened 86 years ago in 1938, MEMBERS FIRST CREDIT UNION has about 12,543 members and employs 44 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 FIRST CREDIT UNION |
|---|---|
| Address: (Main Office) | 5444 S Staples St CORPUS CHRISTI, TX 78411 |
| Phone: | (361) 991-6178 |
| Fax: | (361) 986-6991 |
| Website: | https://www.m1st.org |
| Branches: | 4 branch locations |
| Members: | 12,543 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 67658 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1938 |
| Last Audited: | Jun 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $175,245,592 |
| CEO/Manager: | Wanda Muessel |
| Chairperson: | Samuel S Shores |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 15,554,898 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 34,812,153 |
| Unsecured Loans | 8,941,597 |
| Other Loans | 34,783,265 |
| TOTAL LOANS | 78,537,015 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -343,983 |
| Land And Building | 4,122,938 |
| Other Fixed Assets | 235,994 |
| NCUSIF Deposit | 1,231,263 |
| All Other Assets | 16,450 |
| TOTAL ASSETS | 175,245,592 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 28,852 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 2,280,338 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 31,448,709 |
| Regular shares | 43,412,292 |
| All Other Shares & Deposits | 60,866,209 |
| TOTAL SHARES & DEPOSITS | 135,727,210 |
| TOTAL LIABILITIES | 138,036,400 |
| Regular Reserve | 0 |
| Other Reserves | -412,955 |
| Undivided Earnings | 37,622,147 |
| TOTAL EQUITY | 37,209,192 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 175,245,592 |
| INCOME & EXPENSE | |
| Loan Income | 4,248,308 |
| Investment Income | 2,001,037 |
| Other Income | 1,384,668 |
| Total Employee Compensation & Benefits | 2,564,279 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 2,659,851 |
| Non-operating Income & (Expense) | 8,236 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 360,652 |
| Cost of Funds | 803,064 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 2,650,305 |
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