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MERCER COUNTY IMPROVEMENT AUTHORITY FEDERAL CREDIT UNION

Jun, 30, 2021 — MERCER COUNTY IMPROVEMENT AUTHORITY FEDERAL CREDIT UNION is a federal credit union headquartered in HAMILTON, NJ with 1 branch location and about $478,129 in total assets. Opened 85 years ago in 1936, MERCER COUNTY IMPROVEMENT AUTHORITY FEDERAL CREDIT UNION has about 193 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:193
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:$478,129
CEO/Manager:YAVONE THURMON
Chairperson:MARIA CONCEPCION

Call Report

  • Payday Alternative Loans (PAL Loans)

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 184,335
TOTAL INVESTMENTS 54,886
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 241,939
 Other Loans 0
 TOTAL LOANS 241,939
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -12,998
 Land And Building 0
 Other Fixed Assets 3,435
 NCUSIF Deposit 3,553
 All Other Assets 2,979
  TOTAL ASSETS 478,129
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 3,636
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 0
 Regular shares 398,480
 All Other Shares & Deposits 0
  TOTAL SHARES & DEPOSITS 398,480
  TOTAL LIABILITIES 402,116
 Regular Reserve 22,738
 Other Reserves 0
 Undivided Earnings 53,275
  TOTAL EQUITY 76,013
  TOTAL LIABILITIES, SHARES, & EQUITY 478,129
INCOME & EXPENSE  
 Loan Income 17,822
 Investment Income 16
 Other Income 913
 Total Employee Compensation & Benefits 13,510
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 15,000
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 278
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -9,647
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