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MERIDIA COMMUNITY FEDERAL CREDIT UNION

Dec, 31, 2020 — MERIDIA COMMUNITY FEDERAL CREDIT UNION is a federal credit union headquartered in HAMBURG, NY with 3 branch locations and about $97.10 million in total assets. Opened 66 years ago in 1955, MERIDIA COMMUNITY FEDERAL CREDIT UNION has about 8,590 members and employs 23 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:MERIDIA COMMUNITY FEDERAL CREDIT UNION
Address:
(Main Office)
4500 SOUTHWESTERN BLVD
HAMBURG, NY 14075
Phone:(716) 648-4411
Fax:(716) 648-4526
Website:http://www.meridiacu.com
Branches:3 branch locations
Members:8,590
Credit Union Type:Federal Credit Union
Charter Number:10684
Membership Type:Community credit unions, urban or rural, other than those designated 'low income'
Corporate Credit Union:No
Year Opened:1955
Last Audited:Dec 01, 2019
FHLB Member:No
Low Income Designation:No
Assets:$97,104,435
CEO/Manager:Michael D Hoffman
Chairperson:Brent F Jordan

Call Report

  • Overdraft Lines of Credit
  • Overdraft Protection
  • Real Estate Loans
  • Risk Based Loans
  • ATM/Debit Card Program
  • In-School Branches
  • International Remittances

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 22,918,903
TOTAL INVESTMENTS 750,315
Loans Held for Sale 0
 
 Real Estate Loans 31,046,030
 Unsecured Loans 4,447,688
 Other Loans 31,704,703
 TOTAL LOANS 67,198,421
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -225,517
 Land And Building 3,359,167
 Other Fixed Assets 790,363
 NCUSIF Deposit 826,453
 All Other Assets 1,486,330
  TOTAL ASSETS 97,104,435
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 1,386,179
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 16,672,087
 Regular shares 45,029,646
 All Other Shares & Deposits 23,160,720
  TOTAL SHARES & DEPOSITS 84,862,453
  TOTAL LIABILITIES 86,248,632
 Regular Reserve 452,593
 Other Reserves 0
 Undivided Earnings 10,403,210
  TOTAL EQUITY 10,855,803
  TOTAL LIABILITIES, SHARES, & EQUITY 97,104,435
INCOME & EXPENSE  
 Loan Income 2,879,849
 Investment Income 27,734
 Other Income 829,429
 Total Employee Compensation & Benefits 1,171,245
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 1,506,002
 Non-operating Income & (Expense) -114
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 130,000
 Cost of Funds 308,464
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 621,187
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