Jun, 30, 2024 — MOUNTAIN AMERICA FEDERAL CREDIT UNION is a federal credit union headquartered in SANDY, UT with 100 branch locations and about $15.61 billion in total assets. Opened 88 years ago in 1936, MOUNTAIN AMERICA FEDERAL CREDIT UNION has more than 1.1 million members and employs 3,008 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | MOUNTAIN AMERICA FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 9800 S Monroe St SANDY, UT 84070 |
| Phone: | (801) 325-6220 |
| Fax: | |
| Website: | https://www.macu.com |
| Branches: | 100 branch locations |
| Members: | 1,098,925 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 24692 |
|---|---|
| Membership Type: | Multiple common bond - other |
| Corporate Credit Union: | No |
| Year Opened: | 1936 |
| Last Audited: | Dec 01, 2021 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $15,611,576,241 |
| CEO/Manager: | Sterling W Nielsen |
| Chairperson: | Scott J Burt |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,370,175,829 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 6,385,269 |
| Real Estate Loans | 6,486,402,425 |
| Unsecured Loans | 1,083,833,044 |
| Other Loans | 5,648,142,559 |
| TOTAL LOANS | 13,218,999,037 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -83,355,710 |
| Land And Building | 375,881,203 |
| Other Fixed Assets | 33,468,824 |
| NCUSIF Deposit | 106,889,592 |
| All Other Assets | 2,627,541 |
| TOTAL ASSETS | 15,611,576,241 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 885,000,000 |
| Accounts Payable & Other Liabilities | 129,591,998 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 925,236,057 |
| Regular shares | 2,473,720,995 |
| All Other Shares & Deposits | 9,748,193,675 |
| TOTAL SHARES & DEPOSITS | 13,147,150,727 |
| TOTAL LIABILITIES | 14,161,742,725 |
| Regular Reserve | 0 |
| Other Reserves | -23,383,875 |
| Undivided Earnings | 1,473,217,391 |
| TOTAL EQUITY | 1,449,833,516 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 15,611,576,241 |
| INCOME & EXPENSE | |
| Loan Income | 399,414,458 |
| Investment Income | 12,159,063 |
| Other Income | 108,721,968 |
| Total Employee Compensation & Benefits | 203,934,896 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 170,336,652 |
| Non-operating Income & (Expense) | 6,920,850 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 32,500,000 |
| Cost of Funds | 49,230,248 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 189,829,418 |
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