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MEMORIAL FEDERAL CREDIT UNION

Dec, 31, 2020 — MEMORIAL FEDERAL CREDIT UNION is a federal credit union headquartered in GULFPORT, MS with 1 branch location and about $9.11 million in total assets. Opened 59 years ago in 1962, MEMORIAL FEDERAL CREDIT UNION has about 1,644 members and employs 4 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:MEMORIAL FEDERAL CREDIT UNION
Address:
(Main Office)
PO BOX 1810
GULFPORT, MS 39502-1810
Phone:(228) 865-3142
Fax:(228) 865-3026
Website:https://memorialfcu.org
Branches:1 branch locations
Members:1,644
Credit Union Type:Federal Credit Union
Charter Number:14824
Membership Type:Service - Health Care
Corporate Credit Union:No
Year Opened:1962
Last Audited:May 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$9,106,177
CEO/Manager:JOHN R CURRY
Chairperson:

Call Report

  • Micro Consumer Loans
  • Risk Based Loans
  • Payday Alternative Loans (PAL Loans)

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 1,014,543
TOTAL INVESTMENTS 4,898,000
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 729,375
 Other Loans 2,428,759
 TOTAL LOANS 3,158,134
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -38,896
 Land And Building 0
 Other Fixed Assets 1,091
 NCUSIF Deposit 61,912
 All Other Assets 11,393
  TOTAL ASSETS 9,106,177
LIABILITIES & CAPITAL:  
 Dividends Payable 7,262
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 5,050
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 5,044
 Regular shares 4,978,877
 All Other Shares & Deposits 1,928,935
  TOTAL SHARES & DEPOSITS 6,912,856
  TOTAL LIABILITIES 6,925,168
 Regular Reserve 79,341
 Other Reserves 0
 Undivided Earnings 2,101,668
  TOTAL EQUITY 2,181,009
  TOTAL LIABILITIES, SHARES, & EQUITY 9,106,177
INCOME & EXPENSE  
 Loan Income 211,980
 Investment Income 75,258
 Other Income 21,900
 Total Employee Compensation & Benefits 156,425
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 94,260
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 30,987
 Cost of Funds 31,637
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -4,171
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