M. G. & E. CREDIT UNION is no longer an active credit union according to the NCUA.
Dec, 31, 2023 — M. G. & E. CREDIT UNION is a federally insured state chartered credit union headquartered in MADISON, WI with 1 branch location and about $3.41 million in total assets. Opened 91 years ago in 1933, M. G. & E. CREDIT UNION has about 591 members offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | M. G. & E. CREDIT UNION |
|---|---|
| Address: (Main Office) | P O BOX 8601 MADISON, WI 53708 |
| Phone: | (608) 255-1773 |
| Fax: | (608) 255-4335 |
| Website: | n/a |
| Branches: | 1 branch locations |
| Members: | 591 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 66500 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1933 |
| Last Audited: | Dec 01, 2020 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $3,411,552 |
| CEO/Manager: | Sally Dischler |
| Chairperson: | Michael Savage |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 890,922 |
| TOTAL INVESTMENTS | 526,760 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 82,845 |
| Other Loans | 1,879,750 |
| TOTAL LOANS | 1,962,595 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -7,357 |
| Land And Building | 0 |
| Other Fixed Assets | 1,420 |
| NCUSIF Deposit | 26,768 |
| All Other Assets | 10,444 |
| TOTAL ASSETS | 3,411,552 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 130 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 5,868 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 0 |
| Regular shares | 2,613,078 |
| All Other Shares & Deposits | 278,800 |
| TOTAL SHARES & DEPOSITS | 2,891,878 |
| TOTAL LIABILITIES | 2,897,876 |
| Regular Reserve | 200,171 |
| Other Reserves | 0 |
| Undivided Earnings | 313,505 |
| TOTAL EQUITY | 513,676 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 3,411,552 |
| INCOME & EXPENSE | |
| Loan Income | 48,324 |
| Investment Income | 1,673 |
| Other Income | 282 |
| Total Employee Compensation & Benefits | 32,690 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 13,087 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
| Cost of Funds | 1,435 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 3,067 |
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