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METROPOLITAN ""L"" FEDERAL CREDIT UNION

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

Call Report

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

Financial Summary

» See also Statement of Financial Condition
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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