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MIL-WAY FEDERAL CREDIT UNION

Mar, 31, 2021 — MIL-WAY FEDERAL CREDIT UNION is a federal credit union headquartered in TEXARKANA, AR with 5 branch locations and about $161.65 million in total assets. Opened 65 years ago in 1956, MIL-WAY FEDERAL CREDIT UNION has about 12,470 members and employs 38 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: 282985558
Name:MIL-WAY FEDERAL CREDIT UNION
Address:
(Main Office)
2000 ARKANSAS BLVD
TEXARKANA, AR 71854-1616
Phone:(870) 772-0661
Fax:(870) 773-0126
Website:http://www.milway.org
Branches:5 branch locations
Members:12,470
Credit Union Type:Federal Credit Union
Charter Number:24197
Membership Type:Multiple common bond - Primarily other manufacturing
Corporate Credit Union:No
Year Opened:1956
Last Audited:Dec 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$161,647,584
CEO/Manager:Allen L Brown
Chairperson:Ricky L Norton

Call Report

  • Overdraft Protection
  • Real Estate Loans
  • Risk Based Loans
  • Share Secured Credit Cards
  • ATM/Debit Card Program
  • Check Cashing
  • Health Savings Accounts
  • Insurance/Investment Sales
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 29,622,545
TOTAL INVESTMENTS 38,009,212
Loans Held for Sale 223,000
 
 Real Estate Loans 13,351,662
 Unsecured Loans 3,123,438
 Other Loans 68,850,449
 TOTAL LOANS 85,613,763
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -77,305
 Land And Building 2,579,624
 Other Fixed Assets 719,231
 NCUSIF Deposit 1,177,130
 All Other Assets 3,780,384
  TOTAL ASSETS 161,647,584
LIABILITIES & CAPITAL:  
 Dividends Payable 49,166
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 1,069,441
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 21,289,690
 Regular shares 35,598,639
 All Other Shares & Deposits 88,835,639
  TOTAL SHARES & DEPOSITS 145,723,968
  TOTAL LIABILITIES 146,842,575
 Regular Reserve 1,553,339
 Other Reserves 308,003
 Undivided Earnings 12,943,667
  TOTAL EQUITY 14,805,009
  TOTAL LIABILITIES, SHARES, & EQUITY 161,647,584
INCOME & EXPENSE  
 Loan Income 1,019,556
 Investment Income 77,993
 Other Income 150,226
 Total Employee Compensation & Benefits 669,917
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 585,863
 Non-operating Income & (Expense) 3,166
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 197,116
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 92,042
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