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MORTON WEEKS FEDERAL CREDIT UNION

Mar, 31, 2021 — MORTON WEEKS FEDERAL CREDIT UNION is a federal credit union headquartered in LYDIA, LA with 1 branch location and about $9.03 million in total assets. Opened 55 years ago in 1966, MORTON WEEKS FEDERAL CREDIT UNION has about 1,292 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:MORTON WEEKS FEDERAL CREDIT UNION
Address:
(Main Office)
PO BOX 456
LYDIA, LA 70569
Phone:(337) 367-5503
Fax:(337) 367-5633
Website:n/a
Branches:1 branch locations
Members:1,292
Credit Union Type:Federal Credit Union
Charter Number:17334
Membership Type:Multiple common bond - Primarily other manufacturing
Corporate Credit Union:No
Year Opened:1966
Last Audited:Jan 01, 2021
FHLB Member:No
Low Income Designation:No
Assets:$9,034,462
CEO/Manager:JOEL B SONGNE
Chairperson:COY FITCH

Call Report

  • Overdraft Lines of Credit
  • Overdraft Protection
  • Pay Day Loans
  • Payday Alternative Loans (PAL Loans)
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 2,929,501
TOTAL INVESTMENTS 2,190,287
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 441,532
 Other Loans 3,299,228
 TOTAL LOANS 3,740,760
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -8,097
 Land And Building 72,355
 Other Fixed Assets 9,513
 NCUSIF Deposit 74,143
 All Other Assets 26,000
  TOTAL ASSETS 9,034,462
LIABILITIES & CAPITAL:  
 Dividends Payable 1,635
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 2,587
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 343,449
 Regular shares 7,396,299
 All Other Shares & Deposits 196,140
  TOTAL SHARES & DEPOSITS 7,935,888
  TOTAL LIABILITIES 7,940,110
 Regular Reserve 467,498
 Other Reserves 47,874
 Undivided Earnings 578,980
  TOTAL EQUITY 1,094,352
  TOTAL LIABILITIES, SHARES, & EQUITY 9,034,462
INCOME & EXPENSE  
 Loan Income 39,487
 Investment Income 3,564
 Other Income 3,932
 Total Employee Compensation & Benefits 24,946
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 20,246
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 798
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 1,808
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