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MEDINA COUNTY FEDERAL CREDIT UNION

Dec, 31, 2020 — MEDINA COUNTY FEDERAL CREDIT UNION is a federal credit union headquartered in WADSWORTH, OH with 3 branch locations and about $102.65 million in total assets. Opened 61 years ago in 1960, MEDINA COUNTY FEDERAL CREDIT UNION has about 9,639 members and employs 21 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:9,639
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, 2020
FHLB Member:Yes
Low Income Designation:No
Assets:$102,654,913
CEO/Manager:Pete Grimm
Chairperson:Bud Herrle

Call Report

  • Commercial Loans
  • Indirect Commercial Loans
  • Indirect Consumer Loans
  • Overdraft Protection
  • Participation Loans
  • Real Estate Loans
  • Risk Based Loans
  • Share Secured Credit Cards
  • ATM/Debit Card Program
  • Commercial Share Accounts
  • Check Cashing
  • Insurance/Investment Sales

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 8,606,825
TOTAL INVESTMENTS 44,353,648
Loans Held for Sale 0
 
 Real Estate Loans 17,307,237
 Unsecured Loans 1,104,527
 Other Loans 27,375,400
 TOTAL LOANS 46,520,176
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -112,376
 Land And Building 1,672,989
 Other Fixed Assets 215,875
 NCUSIF Deposit 818,179
 All Other Assets 579,597
  TOTAL ASSETS 102,654,913
LIABILITIES & CAPITAL:  
 Dividends Payable 476
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 354,573
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 20,361,755
 Regular shares 50,659,713
 All Other Shares & Deposits 19,835,916
  TOTAL SHARES & DEPOSITS 90,857,384
  TOTAL LIABILITIES 91,212,433
 Regular Reserve 10,000,000
 Other Reserves 430,290
 Undivided Earnings 1,012,190
  TOTAL EQUITY 11,442,480
  TOTAL LIABILITIES, SHARES, & EQUITY 102,654,913
INCOME & EXPENSE  
 Loan Income 1,622,461
 Investment Income 518,481
 Other Income 805,074
 Total Employee Compensation & Benefits 984,115
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 1,250,990
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 38,000
 Cost of Funds 70,222
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 602,689
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