Dec, 31, 2023 — METROPOLITAN ""L"" FEDERAL CREDIT UNION is a federal credit union headquartered in OAK PARK, IL with 1 branch location and about $9.50 million in total assets. Opened 87 years ago in 1937, METROPOLITAN ""L"" FEDERAL CREDIT UNION has about 1,163 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: | METROPOLITAN ""L"" FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 949 S Ridgeland Ave OAK PARK, IL 60304-2113 |
| Phone: | (708) 386-9272 |
| Fax: | (708) 386-9088 |
| Website: | https://www.metlfcu.com |
| Branches: | 1 branch locations |
| Members: | 1,163 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 2370 |
|---|---|
| Membership Type: | Multiple common bond - Primarily transportation |
| Corporate Credit Union: | No |
| Year Opened: | 1937 |
| Last Audited: | Nov 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $9,501,086 |
| CEO/Manager: | Edwin Mahan |
| Chairperson: | Thomas E Lofgren |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 428,380 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 887,089 |
| Other Loans | 1,267,289 |
| TOTAL LOANS | 2,154,378 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -51,385 |
| Land And Building | 12,500 |
| Other Fixed Assets | 33,763 |
| NCUSIF Deposit | 77,969 |
| All Other Assets | 0 |
| TOTAL ASSETS | 9,501,086 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 1,664 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 36,001 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 1,043,441 |
| Regular shares | 5,236,635 |
| All Other Shares & Deposits | 1,678,641 |
| TOTAL SHARES & DEPOSITS | 7,958,717 |
| TOTAL LIABILITIES | 7,996,382 |
| Regular Reserve | 0 |
| Other Reserves | 229,759 |
| Undivided Earnings | 1,274,945 |
| TOTAL EQUITY | 1,504,704 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 9,501,086 |
| INCOME & EXPENSE | |
| Loan Income | 235,910 |
| Investment Income | 218,937 |
| Other Income | 28,622 |
| Total Employee Compensation & Benefits | 166,540 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 205,234 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 24,000 |
| Cost of Funds | 51,791 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 81,934 |
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