Dec, 31, 2023 — MTCU CREDIT UNION is a federally insured state chartered credit union headquartered in MIDLAND, TX with 3 branch locations and about $138.08 million in total assets. Opened 69 years ago in 1955, MTCU CREDIT UNION has about 7,579 members and employs 33 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | MTCU CREDIT UNION |
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Address: (Main Office) | 1505 N Midland Dr MIDLAND, TX 79703 |
Phone: | (432) 688-7300 |
Fax: | (432) 520-4850 |
Website: | https://mtcu.org |
Branches: | 3 branch locations |
Members: | 7,579 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 67642 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1955 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $138,084,055 |
CEO/Manager: | Justin Marler |
Chairperson: | Betty Merritt |
ASSETS: | $ Amount |
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Cash & Equivalents | 18,788,189 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 19,820,282 |
Unsecured Loans | 13,122,689 |
Other Loans | 39,429,367 |
TOTAL LOANS | 72,372,340 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -328,253 |
Land And Building | 5,178,693 |
Other Fixed Assets | 1,526,867 |
NCUSIF Deposit | 1,209,814 |
All Other Assets | 0 |
TOTAL ASSETS | 138,084,055 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 35,902 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 1,600,213 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 28,632,602 |
Regular shares | 56,652,715 |
All Other Shares & Deposits | 40,271,469 |
TOTAL SHARES & DEPOSITS | 125,556,786 |
TOTAL LIABILITIES | 127,192,901 |
Regular Reserve | 0 |
Other Reserves | -4,357,490 |
Undivided Earnings | 15,248,644 |
TOTAL EQUITY | 10,891,154 |
TOTAL LIABILITIES, SHARES, & EQUITY | 138,084,055 |
INCOME & EXPENSE | |
Loan Income | 5,153,263 |
Investment Income | 1,311,701 |
Other Income | 1,991,323 |
Total Employee Compensation & Benefits | 3,121,874 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 4,124,415 |
Non-operating Income & (Expense) | -519 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 1,766 |
Cost of Funds | 765,103 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 859,939 |
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