Dec, 31, 2023 — MOUNTAIN AMERICA FEDERAL CREDIT UNION is a federal credit union headquartered in SANDY, UT with 103 branch locations and about $18.40 billion in total assets. Opened 88 years ago in 1936, MOUNTAIN AMERICA FEDERAL CREDIT UNION has more than 1.2 million members and employs 3,298 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: | 103 branch locations |
| Members: | 1,222,293 |
| 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, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $18,402,064,572 |
| CEO/Manager: | Sterling W Nielsen |
| Chairperson: | Scott J Burt |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 2,023,240,213 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 3,146,303 |
| Real Estate Loans | 7,695,544,729 |
| Unsecured Loans | 1,587,012,584 |
| Other Loans | 6,051,944,938 |
| TOTAL LOANS | 15,334,989,131 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -170,850,995 |
| Land And Building | 400,734,831 |
| Other Fixed Assets | 44,856,304 |
| NCUSIF Deposit | 128,193,926 |
| All Other Assets | 5,987,429 |
| TOTAL ASSETS | 18,402,064,572 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 435,000,000 |
| Accounts Payable & Other Liabilities | 237,444,654 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 810,081,442 |
| Regular shares | 1,498,343,733 |
| All Other Shares & Deposits | 13,740,428,568 |
| TOTAL SHARES & DEPOSITS | 16,048,853,743 |
| TOTAL LIABILITIES | 16,721,298,397 |
| Regular Reserve | 0 |
| Other Reserves | -14,860,702 |
| Undivided Earnings | 1,695,626,877 |
| TOTAL EQUITY | 1,680,766,175 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 18,402,064,572 |
| INCOME & EXPENSE | |
| Loan Income | 918,787,527 |
| Investment Income | 72,448,618 |
| Other Income | 160,097,807 |
| Total Employee Compensation & Benefits | 299,043,768 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 287,483,284 |
| Non-operating Income & (Expense) | 5,045,501 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 154,368,713 |
| Cost of Funds | 363,702,206 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 197,022,149 |
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