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National Credit Union Service Organization

MORGAN CITY FEDERAL CREDIT UNION

Jun, 30, 2021 — MORGAN CITY FEDERAL CREDIT UNION is a federal credit union headquartered in MORGAN CITY, LA with 1 branch location and about $6.01 million in total assets. Opened 59 years ago in 1962, MORGAN CITY FEDERAL CREDIT UNION has about 917 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:917
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:$6,011,983
CEO/Manager:MARTHA SMILIE
Chairperson:CLAYTON CANTY

Call Report

  • Payday Alternative Loans (PAL Loans)

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 255,566
TOTAL INVESTMENTS 2,207,483
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 328,804
 Other Loans 2,892,973
 TOTAL LOANS 3,221,777
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -16,651
 Land And Building 264,210
 Other Fixed Assets 15,977
 NCUSIF Deposit 51,604
 All Other Assets 12,017
  TOTAL ASSETS 6,011,983
LIABILITIES & CAPITAL:  
 Dividends Payable 3,211
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 8,861
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 0
 Regular shares 5,299,379
 All Other Shares & Deposits 0
  TOTAL SHARES & DEPOSITS 5,299,379
  TOTAL LIABILITIES 5,311,451
 Regular Reserve 59,028
 Other Reserves 0
 Undivided Earnings 641,504
  TOTAL EQUITY 700,532
  TOTAL LIABILITIES, SHARES, & EQUITY 6,011,983
INCOME & EXPENSE  
 Loan Income 80,461
 Investment Income 22,679
 Other Income 2,535
 Total Employee Compensation & Benefits 85,560
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 18,317
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 406
 Cost of Funds 6,398
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -1,941
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