Dec, 31, 2023 — MARINE CREDIT UNION is a federally insured state chartered credit union headquartered in LA CROSSE, WI with 19 branch locations and about $1.05 billion in total assets. Opened 75 years ago in 1949, MARINE CREDIT UNION has about 77,032 members and employs 418 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | MARINE CREDIT UNION |
|---|---|
| Address: (Main Office) | 300 2nd St N Ste 400 LA CROSSE, WI 54601 |
| Phone: | (800) 923-7280 |
| Fax: | |
| Website: | https://marinecu.com |
| Branches: | 19 branch locations |
| Members: | 77,032 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 66752 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1949 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $1,046,027,263 |
| CEO/Manager: | Darrick Weeks |
| Chairperson: | Tom Knothe |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 66,440,130 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 580,569,760 |
| Unsecured Loans | 9,291,354 |
| Other Loans | 251,465,735 |
| TOTAL LOANS | 841,387,291 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -12,606,805 |
| Land And Building | 14,779,520 |
| Other Fixed Assets | 3,935,472 |
| NCUSIF Deposit | 7,521,078 |
| All Other Assets | 235,685 |
| TOTAL ASSETS | 1,046,027,263 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 14,009 |
| Notes & Interest Payable | 119,500,000 |
| Accounts Payable & Other Liabilities | 15,509,142 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 190,869,350 |
| Regular shares | 222,049,465 |
| All Other Shares & Deposits | 389,719,231 |
| TOTAL SHARES & DEPOSITS | 802,638,046 |
| TOTAL LIABILITIES | 937,661,197 |
| Regular Reserve | 0 |
| Other Reserves | 14,753,477 |
| Undivided Earnings | 93,612,589 |
| TOTAL EQUITY | 108,366,066 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 1,046,027,263 |
| INCOME & EXPENSE | |
| Loan Income | 62,501,717 |
| Investment Income | 5,611,691 |
| Other Income | 16,577,744 |
| Total Employee Compensation & Benefits | 42,231,923 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 19,604,478 |
| Non-operating Income & (Expense) | 1,654,818 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 5,674,677 |
| Cost of Funds | 11,331,931 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 7,741,352 |
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