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MEMORIAL FEDERAL CREDIT UNION

Dec, 31, 2023 — MEMORIAL FEDERAL CREDIT UNION is a federal credit union headquartered in GULFPORT, MS with 1 branch location and about $6.33 million in total assets. Opened 62 years ago in 1962, MEMORIAL FEDERAL CREDIT UNION has about 1,348 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)
4500 13th St Rm 11
GULFPORT, MS 39501
Phone:(228) 865-3142
Fax:(228) 865-3026
Website:https://memorialfcu.org
Branches:1 branch locations
Members:1,348
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, 2023
FHLB Member:No
Low Income Designation:No
Assets:$6,333,372
CEO/Manager:KAREN E LIZANA
Chairperson:DONNA COOK

Call Report

  • Payday Alternative Loans (PAL Loans)

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 547,787
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 712,056
 Other Loans 1,727,437
 TOTAL LOANS 2,439,493
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -31,672
 Land And Building 0
 Other Fixed Assets 1,415
 NCUSIF Deposit 59,363
 All Other Assets 0
  TOTAL ASSETS 6,333,372
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 28,194
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 3,042
 Regular shares 3,367,603
 All Other Shares & Deposits 757,249
  TOTAL SHARES & DEPOSITS 4,127,894
  TOTAL LIABILITIES 4,156,088
 Regular Reserve 0
 Other Reserves 79,341
 Undivided Earnings 2,097,943
  TOTAL EQUITY 2,177,284
  TOTAL LIABILITIES, SHARES, & EQUITY 6,333,372
INCOME & EXPENSE  
 Loan Income 172,593
 Investment Income 66,200
 Other Income 26,402
 Total Employee Compensation & Benefits 150,749
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 86,656
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 12,227
 Cost of Funds 4,482
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 8,522
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