Dec, 31, 2023 — MIDLAND MUNICIPAL EMPLOYEES CREDIT UNION is a federally insured state chartered credit union headquartered in MIDLAND, TX with 1 branch location and about $17.38 million in total assets. Opened 71 years ago in 1953, MIDLAND MUNICIPAL EMPLOYEES CREDIT UNION has about 1,312 members offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | MIDLAND MUNICIPAL EMPLOYEES CREDIT UNION |
|---|---|
| Address: (Main Office) | 300 N Loraine St MIDLAND, TX 79701-4725 |
| Phone: | (432) 685-7933 |
| Fax: | (432) 686-1620 |
| Website: | n/a |
| Branches: | 1 branch locations |
| Members: | 1,312 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 67475 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1953 |
| Last Audited: | Dec 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $17,380,245 |
| CEO/Manager: | Amber L Pearce |
| Chairperson: | Michael Cota |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 319,466 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 449,997 |
| Other Loans | 3,673,027 |
| TOTAL LOANS | 4,123,024 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -37,582 |
| Land And Building | 0 |
| Other Fixed Assets | 21,750 |
| NCUSIF Deposit | 158,427 |
| All Other Assets | 0 |
| TOTAL ASSETS | 17,380,245 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 68,672 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 32,624 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 0 |
| Regular shares | 14,573,502 |
| All Other Shares & Deposits | 336,000 |
| TOTAL SHARES & DEPOSITS | 14,909,502 |
| TOTAL LIABILITIES | 15,010,798 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 2,369,447 |
| TOTAL EQUITY | 2,369,447 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 17,380,245 |
| INCOME & EXPENSE | |
| Loan Income | 203,754 |
| Investment Income | 252,018 |
| Other Income | 25 |
| Total Employee Compensation & Benefits | 203,828 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 57,182 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 5,628 |
| Cost of Funds | 158,911 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 32,258 |
| ↑ Back to Top | |