Jun, 30, 2024 — 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 62 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.
Name: | MEMPHIS MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION |
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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 |
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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 |
ASSETS: | $ Amount |
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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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