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MOREHEAD COMMUNITY FEDERAL CREDIT UNION

Dec, 31, 2020 — MOREHEAD COMMUNITY FEDERAL CREDIT UNION is a federal credit union headquartered in Morehead, KY with 1 branch location and about $45.19 million in total assets. Opened 43 years ago in 1978, MOREHEAD COMMUNITY FEDERAL CREDIT UNION has about 3,877 members and employs 10 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 242186326
Name:MOREHEAD COMMUNITY FEDERAL CREDIT UNION
Address:
(Main Office)
503 West Main St.
Morehead, KY 40351
Phone:(606) 784-2201
Fax:(606) 784-2202
Website:http://moreheadcommunity.com
Branches:1 branch locations
Members:3,877
Credit Union Type:Federal Credit Union
Charter Number:23070
Membership Type:Community credit unions, urban or rural, other than those designated 'low income'
Corporate Credit Union:No
Year Opened:1978
Last Audited:Sep 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$45,189,855
CEO/Manager:Mike Alcorn
Chairperson:Darrell Smith

Call Report

  • Overdraft Protection
  • Pay Day Loans
  • Real Estate Loans
  • Risk Based Loans
  • Payday Alternative Loans (PAL Loans)
  • ATM/Debit Card Program
  • Commercial Share Accounts
  • Check Cashing
  • Insurance/Investment Sales
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 4,908,916
TOTAL INVESTMENTS 21,579,558
Loans Held for Sale 0
 
 Real Estate Loans 6,739,454
 Unsecured Loans 1,237,678
 Other Loans 9,673,795
 TOTAL LOANS 17,650,927
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -138,662
 Land And Building 587,967
 Other Fixed Assets 172,363
 NCUSIF Deposit 322,258
 All Other Assets 106,528
  TOTAL ASSETS 45,189,855
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 238,596
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 5,191,929
 Regular shares 17,113,296
 All Other Shares & Deposits 17,662,914
  TOTAL SHARES & DEPOSITS 39,968,139
  TOTAL LIABILITIES 40,206,735
 Regular Reserve 184,356
 Other Reserves 0
 Undivided Earnings 4,798,764
  TOTAL EQUITY 4,983,120
  TOTAL LIABILITIES, SHARES, & EQUITY 45,189,855
INCOME & EXPENSE  
 Loan Income 1,070,323
 Investment Income 309,637
 Other Income 436,881
 Total Employee Compensation & Benefits 613,171
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 491,450
 Non-operating Income & (Expense) 693
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 39,000
 Cost of Funds 320,383
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 353,530
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