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MEMPHIS MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION

Mar, 31, 2022 — MEMPHIS MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION is a federal credit union headquartered in MEMPHIS, TN with 1 branch location and about $18.73 million in total assets. Opened 59 years ago in 1963, MEMPHIS MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION has about 3,070 members and employs 8 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 284084842
Name:MEMPHIS MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION
Address:
(Main Office)
577 Dr Ml King Jr Ave
MEMPHIS, TN 38126-1942
Phone:(901) 528-2816
Fax:(901) 528-2826
Website:http://www.mmefcu.org
Branches:1 branch locations
Members:3,070
Credit Union Type:Federal Credit Union
Charter Number:15433
Membership Type:Multiple common bond - Primarily federal, state, local government
Corporate Credit Union:No
Year Opened:1963
Last Audited:Mar 01, 2022
FHLB Member:No
Low Income Designation:No
Assets:$18,732,055
CEO/Manager:Delphine L Price
Chairperson:Charlette E Johnson

Call Report

  • Payday Alternative Loans (PAL Loans)
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 646,135
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 1,232,206
 Other Loans 2,951,416
 TOTAL LOANS 4,557,926
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -87,380
 Land And Building 72,571
 Other Fixed Assets 37,321
 NCUSIF Deposit 129,562
 All Other Assets 0
  TOTAL ASSETS 18,732,055
LIABILITIES & CAPITAL:  
 Dividends Payable 908
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities -312,864
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 2,667,769
 Regular shares 11,084,088
 All Other Shares & Deposits 1,143,267
  TOTAL SHARES & DEPOSITS 14,895,124
  TOTAL LIABILITIES 14,583,168
 Regular Reserve 0
 Other Reserves 378,734
 Undivided Earnings 3,770,153
  TOTAL EQUITY 4,148,887
  TOTAL LIABILITIES, SHARES, & EQUITY 18,732,055
INCOME & EXPENSE  
 Loan Income 95,353
 Investment Income 6,544
 Other Income 95,353
 Total Employee Compensation & Benefits 69,219
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 161,887
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 28,490
 Cost of Funds -2,491
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 28,056
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