Dec, 31, 2023 — METRO FEDERAL CREDIT UNION is a federal credit union headquartered in ARLINGTON HEIGHTS, IL with 1 branch location and about $66.65 million in total assets. Opened 51 years ago in 1973, METRO FEDERAL CREDIT UNION has about 3,244 members and employs 13 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | METRO FEDERAL CREDIT UNION |
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Address: (Main Office) | 2440 E Rand Rd ARLINGTON HEIGHTS, IL 60004-5802 |
Phone: | (847) 670-0456 |
Fax: | (847) 670-0401 |
Website: | https://www.mcu.org |
Branches: | 1 branch locations |
Members: | 3,244 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 21326 |
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Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
Corporate Credit Union: | No |
Year Opened: | 1973 |
Last Audited: | Sep 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $66,652,652 |
CEO/Manager: | Salvatore Fragale |
Chairperson: | Donna Wilson |
ASSETS: | $ Amount |
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Cash & Equivalents | 6,343,020 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 19,585,643 |
Unsecured Loans | 3,841,615 |
Other Loans | 16,184,754 |
TOTAL LOANS | 39,612,012 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -336,725 |
Land And Building | 1,353,517 |
Other Fixed Assets | 57,575 |
NCUSIF Deposit | 578,224 |
All Other Assets | 0 |
TOTAL ASSETS | 66,652,652 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 1,054,618 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 10,195,696 |
Regular shares | 33,736,179 |
All Other Shares & Deposits | 15,836,001 |
TOTAL SHARES & DEPOSITS | 59,767,877 |
TOTAL LIABILITIES | 60,822,495 |
Regular Reserve | 0 |
Other Reserves | 790,838 |
Undivided Earnings | 5,039,319 |
TOTAL EQUITY | 5,830,157 |
TOTAL LIABILITIES, SHARES, & EQUITY | 66,652,652 |
INCOME & EXPENSE | |
Loan Income | 2,023,010 |
Investment Income | 689,888 |
Other Income | 340,823 |
Total Employee Compensation & Benefits | 1,281,267 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 845,138 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 48,000 |
Cost of Funds | 290,632 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 721,539 |
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» See also Statement of Financial Condition