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MEMPHIS MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION

Jun, 30, 2023 — MEMPHIS MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION is a federal credit union headquartered in MEMPHIS, TN with 1 branch location and about $18.06 million in total assets. Opened 61 years ago in 1963, MEMPHIS MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION has about 3,115 members and employs 7 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:https://www.mmefcu.org
Branches:1 branch locations
Members:3,115
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:Dec 01, 2021
FHLB Member:No
Low Income Designation:No
Assets:$18,058,763
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 706,350
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 1,328,040
 Other Loans 3,866,210
 TOTAL LOANS 5,194,250
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) 143,419
 Land And Building 72,559
 Other Fixed Assets 0
 NCUSIF Deposit 91,068
 All Other Assets 58,676
  TOTAL ASSETS 18,058,763
LIABILITIES & CAPITAL:  
 Dividends Payable 1,780
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities -217,774
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 2,355,452
 Regular shares 10,614,085
 All Other Shares & Deposits 1,211,258
  TOTAL SHARES & DEPOSITS 14,180,795
  TOTAL LIABILITIES 13,964,801
 Regular Reserve 0
 Other Reserves 378,734
 Undivided Earnings 3,715,228
  TOTAL EQUITY 4,093,962
  TOTAL LIABILITIES, SHARES, & EQUITY 18,058,763
INCOME & EXPENSE  
 Loan Income 278,384
 Investment Income 42,287
 Other Income 221,447
 Total Employee Compensation & Benefits 251,008
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 640,472
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 2,647
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -212,261
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