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MOREHEAD COMMUNITY FEDERAL CREDIT UNION

Dec, 31, 2023 — MOREHEAD COMMUNITY FEDERAL CREDIT UNION is a federal credit union headquartered in MOREHEAD, KY with 1 branch location and about $52.02 million in total assets. Opened 46 years ago in 1978, MOREHEAD COMMUNITY FEDERAL CREDIT UNION has about 4,181 members and employs 11 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 W Main St
MOREHEAD, KY 40351-1539
Phone:(606) 784-2201
Fax:(606) 784-2202
Website:https://moreheadcommunity.com
Branches:1 branch locations
Members:4,181
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, 2023
FHLB Member:No
Low Income Designation:No
Assets:$52,019,978
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 3,282,912
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 7,057,667
 Unsecured Loans 1,425,436
 Other Loans 14,710,089
 TOTAL LOANS 23,193,191
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -165,081
 Land And Building 542,107
 Other Fixed Assets 56,094
 NCUSIF Deposit 446,533
 All Other Assets 0
  TOTAL ASSETS 52,019,978
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 417,029
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 5,806,883
 Regular shares 16,872,049
 All Other Shares & Deposits 22,810,407
  TOTAL SHARES & DEPOSITS 45,489,339
  TOTAL LIABILITIES 45,910,368
 Regular Reserve 0
 Other Reserves -304,510
 Undivided Earnings 6,414,120
  TOTAL EQUITY 6,109,610
  TOTAL LIABILITIES, SHARES, & EQUITY 52,019,978
INCOME & EXPENSE  
 Loan Income 1,288,884
 Investment Income 763,117
 Other Income 537,423
 Total Employee Compensation & Benefits 689,787
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 638,122
 Non-operating Income & (Expense) -3,407
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 34,500
 Cost of Funds 646,007
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 635,619
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