Dec, 31, 2023 — MIL-WAY FEDERAL CREDIT UNION is a federal credit union headquartered in TEXARKANA, AR with 4 branch locations and about $163.12 million in total assets. Opened 68 years ago in 1956, MIL-WAY FEDERAL CREDIT UNION has about 12,665 members and employs 33 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| 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: | https://www.milway.org |
| Branches: | 4 branch locations |
| Members: | 12,665 |
| 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, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $163,122,336 |
| CEO/Manager: | Allen L Brown |
| Chairperson: | Ricky L Norton |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 11,851,518 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 19,140,144 |
| Unsecured Loans | 3,812,968 |
| Other Loans | 67,673,071 |
| TOTAL LOANS | 91,078,120 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -75,951 |
| Land And Building | 2,395,102 |
| Other Fixed Assets | 814,153 |
| NCUSIF Deposit | 1,466,520 |
| All Other Assets | 79,500 |
| TOTAL ASSETS | 163,122,336 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 113,442 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 1,601,775 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 18,990,338 |
| Regular shares | 32,530,614 |
| All Other Shares & Deposits | 92,662,945 |
| TOTAL SHARES & DEPOSITS | 144,183,897 |
| TOTAL LIABILITIES | 145,899,114 |
| Regular Reserve | 0 |
| Other Reserves | 308,003 |
| Undivided Earnings | 16,915,219 |
| TOTAL EQUITY | 17,223,222 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 163,122,336 |
| INCOME & EXPENSE | |
| Loan Income | 5,033,196 |
| Investment Income | 975,597 |
| Other Income | 471,477 |
| Total Employee Compensation & Benefits | 2,687,464 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 2,539,199 |
| Non-operating Income & (Expense) | 11,169 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 42,593 |
| Cost of Funds | 1,897,514 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 718,904 |
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