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ISRAEL METHCOMM FEDERAL CREDIT UNION

Dec, 31, 2023 — ISRAEL METHCOMM FEDERAL CREDIT UNION is a federal credit union headquartered in CHICAGO, IL with 1 branch location and about $1.87 million in total assets. Opened 61 years ago in 1963, ISRAEL METHCOMM FEDERAL CREDIT UNION has about 220 members offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:ISRAEL METHCOMM FEDERAL CREDIT UNION
Address:
(Main Office)
7620 S Cottage Grove Ave
CHICAGO, IL 60619-2517
Phone:(773) 483-1131
Fax:(773) 483-0092
Website:https://imfcu.com/
Branches:1 branch locations
Members:220
Credit Union Type:Federal Credit Union
Charter Number:15673
Membership Type:Multiple common bond - Primarily faith based
Corporate Credit Union:No
Year Opened:1963
Last Audited:Jun 01, 2023
FHLB Member:No
Low Income Designation:No
Assets:$1,865,344
CEO/Manager:Eddie Berry
Chairperson:Willie Lewis

Call Report

  • Payday Alternative Loans (PAL Loans)

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 821,731
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 101,044
 Other Loans 396,441
 TOTAL LOANS 497,485
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -33,269
 Land And Building 0
 Other Fixed Assets 0
 NCUSIF Deposit 13,635
 All Other Assets 0
  TOTAL ASSETS 1,865,344
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 229,381
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 0
 Regular shares 1,407,794
 All Other Shares & Deposits 19,514
  TOTAL SHARES & DEPOSITS 1,427,307
  TOTAL LIABILITIES 1,656,688
 Regular Reserve 0
 Other Reserves 5,163
 Undivided Earnings 203,493
  TOTAL EQUITY 208,656
  TOTAL LIABILITIES, SHARES, & EQUITY 1,865,344
INCOME & EXPENSE  
 Loan Income 28,614
 Investment Income 31,651
 Other Income 101
 Total Employee Compensation & Benefits 0
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 10,127
 Non-operating Income & (Expense) 1,488
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 4,995
 Cost of Funds 13,723
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 33,009
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