Dec, 31, 2023 — MEMORIAL CREDIT UNION is a federally insured state chartered credit union headquartered in HOUSTON, TX with 5 branch locations and about $94.57 million in total assets. Opened 71 years ago in 1953, MEMORIAL CREDIT UNION has about 10,622 members and employs 28 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | MEMORIAL CREDIT UNION |
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Address: (Main Office) | 7789 Southwest fwy Ste 175 HOUSTON, TX 77074-1831 |
Phone: | (713) 778-6300 |
Fax: | (713) 778-6320 |
Website: | https://www.memorialcu.org |
Branches: | 5 branch locations |
Members: | 10,622 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 62571 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1953 |
Last Audited: | Jun 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $94,569,265 |
CEO/Manager: | THOMAS ROGERS |
Chairperson: | Paul Wenz |
ASSETS: | $ Amount |
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Cash & Equivalents | 7,656,570 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 26,439,507 |
Unsecured Loans | 8,383,580 |
Other Loans | 47,341,778 |
TOTAL LOANS | 82,164,865 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -447,121 |
Land And Building | 0 |
Other Fixed Assets | 116,924 |
NCUSIF Deposit | 824,534 |
All Other Assets | 49,915 |
TOTAL ASSETS | 94,569,265 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 677,751 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 11,679,501 |
Regular shares | 46,741,913 |
All Other Shares & Deposits | 25,939,519 |
TOTAL SHARES & DEPOSITS | 84,360,933 |
TOTAL LIABILITIES | 85,038,684 |
Regular Reserve | 0 |
Other Reserves | 0 |
Undivided Earnings | 9,530,581 |
TOTAL EQUITY | 9,530,581 |
TOTAL LIABILITIES, SHARES, & EQUITY | 94,569,265 |
INCOME & EXPENSE | |
Loan Income | 4,209,914 |
Investment Income | 463,328 |
Other Income | 1,165,489 |
Total Employee Compensation & Benefits | 2,319,519 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 2,887,770 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 355,848 |
Cost of Funds | 514,398 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 399,181 |
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