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MORGAN CITY FEDERAL CREDIT UNION

Mar, 31, 2021 — MORGAN CITY FEDERAL CREDIT UNION is a federal credit union headquartered in MORGAN CITY, LA with 1 branch location and about $6.05 million in total assets. Opened 59 years ago in 1962, MORGAN CITY FEDERAL CREDIT UNION has about 922 members and employs 3 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:MORGAN CITY FEDERAL CREDIT UNION
Address:
(Main Office)
PO BOX 610
MORGAN CITY, LA 70381
Phone:(985) 380-4722
Fax:(985) 385-9968
Website:n/a
Branches:1 branch locations
Members:922
Credit Union Type:Federal Credit Union
Charter Number:15009
Membership Type:Multiple common bond - Primarily federal, state, local government
Corporate Credit Union:No
Year Opened:1962
Last Audited:Jun 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$6,053,743
CEO/Manager:MARTHA SMILIE
Chairperson:CLAYTON CANTY

Call Report

  • Micro Consumer Loans
  • Pay Day Loans
  • Payday Alternative Loans (PAL Loans)

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 534,154
TOTAL INVESTMENTS 2,207,483
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 323,037
 Other Loans 2,658,304
 TOTAL LOANS 2,981,341
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -16,651
 Land And Building 265,304
 Other Fixed Assets 13,504
 NCUSIF Deposit 48,363
 All Other Assets 20,245
  TOTAL ASSETS 6,053,743
LIABILITIES & CAPITAL:  
 Dividends Payable 3,194
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 6,459
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 0
 Regular shares 5,344,174
 All Other Shares & Deposits 0
  TOTAL SHARES & DEPOSITS 5,344,174
  TOTAL LIABILITIES 5,353,827
 Regular Reserve 59,028
 Other Reserves 0
 Undivided Earnings 640,888
  TOTAL EQUITY 699,916
  TOTAL LIABILITIES, SHARES, & EQUITY 6,053,743
INCOME & EXPENSE  
 Loan Income 41,643
 Investment Income 11,888
 Other Income 1,385
 Total Employee Compensation & Benefits 42,559
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 12,838
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 406
 Cost of Funds 3,193
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -2,557
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