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National Credit Union Service Organization

MERCER COUNTY IMPROVEMENT AUTHORITY FEDERAL CREDIT UNION

Dec, 31, 2020 — MERCER COUNTY IMPROVEMENT AUTHORITY FEDERAL CREDIT UNION is a federal credit union headquartered in HAMILTON, NJ with 1 branch location and about $443,148 in total assets. Opened 85 years ago in 1936, MERCER COUNTY IMPROVEMENT AUTHORITY FEDERAL CREDIT UNION has about 198 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:MERCER COUNTY IMPROVEMENT AUTHORITY FEDERAL CREDIT UNION
Address:
(Main Office)
600 SLOAN AVE
HAMILTON, NJ 08619
Phone:(609) 689-1765
Fax:(609) 689-9704
Website:n/a
Branches:1 branch locations
Members:198
Credit Union Type:Federal Credit Union
Charter Number:1546
Membership Type:Service - Transportation
Corporate Credit Union:No
Year Opened:1936
Last Audited:Nov 01, 2019
FHLB Member:No
Low Income Designation:No
Assets:$443,148
CEO/Manager:YAVONE THURMON
Chairperson:BARBARA MARSHALL

Call Report

  • Payday Alternative Loans (PAL Loans)
  • Check Cashing

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 117,510
TOTAL INVESTMENTS 54,931
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 272,711
 Other Loans 0
 TOTAL LOANS 272,711
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -12,252
 Land And Building 0
 Other Fixed Assets 4,360
 NCUSIF Deposit 3,505
 All Other Assets 2,383
  TOTAL ASSETS 443,148
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 2,176
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 0
 Regular shares 355,312
 All Other Shares & Deposits 0
  TOTAL SHARES & DEPOSITS 355,312
  TOTAL LIABILITIES 357,488
 Regular Reserve 22,738
 Other Reserves 0
 Undivided Earnings 62,922
  TOTAL EQUITY 85,660
  TOTAL LIABILITIES, SHARES, & EQUITY 443,148
INCOME & EXPENSE  
 Loan Income 38,545
 Investment Income 535
 Other Income 4,011
 Total Employee Compensation & Benefits 23,880
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 19,945
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 14,703
 Cost of Funds 547
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -15,984
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