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MOREHEAD COMMUNITY FEDERAL CREDIT UNION

Jun, 30, 2021 — MOREHEAD COMMUNITY FEDERAL CREDIT UNION is a federal credit union headquartered in Morehead, KY with 1 branch location and about $48.50 million in total assets. Opened 43 years ago in 1978, MOREHEAD COMMUNITY FEDERAL CREDIT UNION has about 3,934 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:3,934
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:$48,497,087
CEO/Manager:Mike Alcorn
Chairperson:Darrell Smith

Call Report

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

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 8,138,378
TOTAL INVESTMENTS 20,091,558
Loans Held for Sale 0
 
 Real Estate Loans 6,863,020
 Unsecured Loans 1,067,910
 Other Loans 11,259,833
 TOTAL LOANS 19,190,763
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -116,999
 Land And Building 579,450
 Other Fixed Assets 143,462
 NCUSIF Deposit 395,380
 All Other Assets 75,095
  TOTAL ASSETS 48,497,087
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 262,378
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 5,592,962
 Regular shares 20,441,757
 All Other Shares & Deposits 17,117,354
  TOTAL SHARES & DEPOSITS 43,152,073
  TOTAL LIABILITIES 43,414,451
 Regular Reserve 184,356
 Other Reserves 0
 Undivided Earnings 4,898,280
  TOTAL EQUITY 5,082,636
  TOTAL LIABILITIES, SHARES, & EQUITY 48,497,087
INCOME & EXPENSE  
 Loan Income 456,648
 Investment Income 65,554
 Other Income 222,827
 Total Employee Compensation & Benefits 295,817
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 260,250
 Non-operating Income & (Expense) 11,270
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 13,500
 Cost of Funds 103,203
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 99,514
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