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MEDINA COUNTY FEDERAL CREDIT UNION

Sep, 30, 2021 — MEDINA COUNTY FEDERAL CREDIT UNION is a federal credit union headquartered in WADSWORTH, OH with 3 branch locations and about $113.65 million in total assets. Opened 61 years ago in 1960, MEDINA COUNTY FEDERAL CREDIT UNION has about 9,792 members and employs 20 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:MEDINA COUNTY FEDERAL CREDIT UNION
Address:
(Main Office)
PO BOX 1010
WADSWORTH, OH 44282
Phone:(330) 334-1023
Fax:(330) 334-5610
Website:http://www.medfed.com
Branches:3 branch locations
Members:9,792
Credit Union Type:Federal Credit Union
Charter Number:13794
Membership Type:Community credit unions, urban or rural, other than those designated 'low income'
Corporate Credit Union:No
Year Opened:1960
Last Audited:Sep 01, 2021
FHLB Member:Yes
Low Income Designation:No
Assets:$113,646,452
CEO/Manager:Pete Grimm
Chairperson:Bud Herrle

Call Report

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 11,562,085
TOTAL INVESTMENTS 47,256,352
Loans Held for Sale 0
 
 Real Estate Loans 21,423,187
 Unsecured Loans 1,030,461
 Other Loans 27,908,563
 TOTAL LOANS 51,488,402
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -118,917
 Land And Building 1,622,251
 Other Fixed Assets 239,875
 NCUSIF Deposit 987,809
 All Other Assets 608,595
  TOTAL ASSETS 113,646,452
LIABILITIES & CAPITAL:  
 Dividends Payable 946
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 342,551
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 22,065,696
 Regular shares 57,826,414
 All Other Shares & Deposits 21,896,220
  TOTAL SHARES & DEPOSITS 101,788,330
  TOTAL LIABILITIES 102,131,827
 Regular Reserve 10,000,000
 Other Reserves 47,726
 Undivided Earnings 1,466,899
  TOTAL EQUITY 11,514,625
  TOTAL LIABILITIES, SHARES, & EQUITY 113,646,452
INCOME & EXPENSE  
 Loan Income 1,249,297
 Investment Income 298,536
 Other Income 340,924
 Total Employee Compensation & Benefits 744,329
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 942,754
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 4,528
 Cost of Funds 44,407
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 454,709
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