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GARY MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION

Mar, 31, 2021 — GARY MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION is a federal credit union headquartered in GARY, IN with 1 branch location and about $517,971 in total assets. Opened 57 years ago in 1964, GARY MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION has about 133 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:GARY MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION
Address:
(Main Office)
401 BROADWAY, ROOM B1
GARY, IN 46402
Phone:(219) 881-1320
Fax:(219) 881-1340
Website:n/a
Branches:1 branch locations
Members:133
Credit Union Type:Federal Credit Union
Charter Number:16126
Membership Type:Federal, State, Local Government
Corporate Credit Union:No
Year Opened:1964
Last Audited:Feb 01, 2021
FHLB Member:No
Low Income Designation:No
Assets:$517,971
CEO/Manager:FRANKIE WILCOX
Chairperson:WELTHA BROOKS

Call Report

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 285,167
TOTAL INVESTMENTS 123,800
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 104,365
 Other Loans 0
 TOTAL LOANS 104,365
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -2,992
 Land And Building 0
 Other Fixed Assets 0
 NCUSIF Deposit 2,454
 All Other Assets 5,177
  TOTAL ASSETS 517,971
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 3,614
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 0
 Regular shares 301,660
 All Other Shares & Deposits 0
  TOTAL SHARES & DEPOSITS 301,660
  TOTAL LIABILITIES 305,274
 Regular Reserve 34,374
 Other Reserves 0
 Undivided Earnings 178,323
  TOTAL EQUITY 212,697
  TOTAL LIABILITIES, SHARES, & EQUITY 517,971
INCOME & EXPENSE  
 Loan Income 3,477
 Investment Income 54
 Other Income 196
 Total Employee Compensation & Benefits 3,230
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 2,241
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 1,005
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -2,749
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