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MORTON WEEKS FEDERAL CREDIT UNION

Jun, 30, 2021 — MORTON WEEKS FEDERAL CREDIT UNION is a federal credit union headquartered in LYDIA, LA with 1 branch location and about $8.88 million in total assets. Opened 55 years ago in 1966, MORTON WEEKS FEDERAL CREDIT UNION has about 1,271 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:1,271
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:$8,884,720
CEO/Manager:JOEL B SONGNE
Chairperson:COY FITCH

Call Report

  • Payday Alternative Loans (PAL Loans)
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 3,678,276
TOTAL INVESTMENTS 1,592,287
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 408,900
 Other Loans 3,032,439
 TOTAL LOANS 3,441,339
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -3,452
 Land And Building 71,648
 Other Fixed Assets 8,027
 NCUSIF Deposit 76,396
 All Other Assets 20,199
  TOTAL ASSETS 8,884,720
LIABILITIES & CAPITAL:  
 Dividends Payable 2,035
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 1,662
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 303,049
 Regular shares 7,280,755
 All Other Shares & Deposits 193,173
  TOTAL SHARES & DEPOSITS 7,776,977
  TOTAL LIABILITIES 7,780,674
 Regular Reserve 467,498
 Other Reserves 47,874
 Undivided Earnings 588,674
  TOTAL EQUITY 1,104,046
  TOTAL LIABILITIES, SHARES, & EQUITY 8,884,720
INCOME & EXPENSE  
 Loan Income 76,768
 Investment Income 8,452
 Other Income 7,152
 Total Employee Compensation & Benefits 52,694
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 47,567
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 2,876
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 11,502
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