Dec, 31, 2023 — MERIDIA COMMUNITY FEDERAL CREDIT UNION is a federal credit union headquartered in HAMBURG, NY with 3 branch locations and about $123.81 million in total assets. Opened 69 years ago in 1955, MERIDIA COMMUNITY FEDERAL CREDIT UNION has about 9,754 members and employs 24 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 |
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Address: (Main Office) | 4500 Southwestern Blvd HAMBURG, NY 14075 |
Phone: | (716) 648-4411 |
Fax: | (716) 648-4526 |
Website: | https://www.meridiacu.com |
Branches: | 3 branch locations |
Members: | 9,754 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 10684 |
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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, 2022 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $123,811,479 |
CEO/Manager: | Michael D Hoffman |
Chairperson: | Brent F Jordan |
ASSETS: | $ Amount |
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Cash & Equivalents | 7,868,043 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 36,794,815 |
Unsecured Loans | 6,767,291 |
Other Loans | 56,804,514 |
TOTAL LOANS | 100,366,620 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -256,244 |
Land And Building | 3,069,158 |
Other Fixed Assets | 320,451 |
NCUSIF Deposit | 1,091,773 |
All Other Assets | 0 |
TOTAL ASSETS | 123,811,479 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 1,734,755 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 20,764,662 |
Regular shares | 56,359,059 |
All Other Shares & Deposits | 29,315,873 |
TOTAL SHARES & DEPOSITS | 106,439,594 |
TOTAL LIABILITIES | 108,174,349 |
Regular Reserve | 0 |
Other Reserves | 0 |
Undivided Earnings | 15,637,130 |
TOTAL EQUITY | 15,637,130 |
TOTAL LIABILITIES, SHARES, & EQUITY | 123,811,479 |
INCOME & EXPENSE | |
Loan Income | 4,595,556 |
Investment Income | 655,241 |
Other Income | 647,282 |
Total Employee Compensation & Benefits | 1,439,420 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 1,893,340 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | -30,399 |
Cost of Funds | 613,203 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 2,610,342 |
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