Dec, 31, 2023 — MOUNTAIN EMPIRE FEDERAL CREDIT UNION is a federal credit union headquartered in MARION, VA with 1 branch location and about $24.55 million in total assets. Opened 72 years ago in 1952, MOUNTAIN EMPIRE FEDERAL CREDIT UNION has about 3,902 members and employs 11 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | MOUNTAIN EMPIRE FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 1413 N MAIN ST MARION, VA 24354-4315 |
| Phone: | (276) 782-9639 |
| Fax: | (276) 783-9303 |
| Website: | https://www.mountainempirefcu.org |
| Branches: | 1 branch locations |
| Members: | 3,902 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 8197 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1952 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $24,552,045 |
| CEO/Manager: | JEANNIE HUNT |
| Chairperson: | AMANDA CURRIN |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 4,182,117 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 2,298,128 |
| Unsecured Loans | 1,410,252 |
| Other Loans | 10,147,415 |
| TOTAL LOANS | 13,855,795 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -44,053 |
| Land And Building | 340,786 |
| Other Fixed Assets | 31,201 |
| NCUSIF Deposit | 214,992 |
| All Other Assets | 22,680 |
| TOTAL ASSETS | 24,552,045 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 8,433 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 412,575 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 4,207,540 |
| Regular shares | 14,906,815 |
| All Other Shares & Deposits | 2,504,139 |
| TOTAL SHARES & DEPOSITS | 21,618,493 |
| TOTAL LIABILITIES | 22,039,501 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 2,512,544 |
| TOTAL EQUITY | 2,512,544 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 24,552,045 |
| INCOME & EXPENSE | |
| Loan Income | 841,807 |
| Investment Income | 154,021 |
| Other Income | 111,010 |
| Total Employee Compensation & Benefits | 461,494 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 485,228 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | -35,805 |
| Cost of Funds | 33,425 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 316,200 |
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