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MEMPHIS MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION

Mar, 31, 2021 — MEMPHIS MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION is a federal credit union headquartered in Memphis, TN with 1 branch location and about $17.99 million in total assets. Opened 58 years ago in 1963, MEMPHIS MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION has about 2,957 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:http://www.mmefcu.org
Branches:1 branch locations
Members:2,957
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, 2020
FHLB Member:No
Low Income Designation:No
Assets:$17,985,908
CEO/Manager:Delphine L Price
Chairperson:Charlette E Johnson

Call Report

  • Credit Builder
  • Micro Consumer Loans
  • Overdraft Lines of Credit
  • Overdraft Protection
  • Pay Day Loans
  • Real Estate Loans
  • Risk Based Loans
  • Share Secured Credit Cards
  • Payday Alternative Loans (PAL Loans)
  • ATM/Debit Card Program
  • Check Cashing
  • Insurance/Investment Sales
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 9,149,767
TOTAL INVESTMENTS 4,198,772
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 1,142,983
 Other Loans 3,148,464
 TOTAL LOANS 4,291,447
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -140,822
 Land And Building 54,204
 Other Fixed Assets 49,398
 NCUSIF Deposit 105,840
 All Other Assets 277,302
  TOTAL ASSETS 17,985,908
LIABILITIES & CAPITAL:  
 Dividends Payable 1,666
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities -869,080
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 2,659,167
 Regular shares 10,640,485
 All Other Shares & Deposits 1,150,272
  TOTAL SHARES & DEPOSITS 14,449,924
  TOTAL LIABILITIES 13,582,510
 Regular Reserve 378,734
 Other Reserves 0
 Undivided Earnings 4,024,664
  TOTAL EQUITY 4,403,398
  TOTAL LIABILITIES, SHARES, & EQUITY 17,985,908
INCOME & EXPENSE  
 Loan Income 93,377
 Investment Income 9,295
 Other Income 58,728
 Total Employee Compensation & Benefits 77,037
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 115,267
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 4,575
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -24,608
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