Jun, 30, 2024 — MAYO EMPLOYEES FEDERAL CREDIT UNION is a federal credit union headquartered in ROCHESTER, MN with 9 branch locations and about $1.40 billion in total assets. Opened 90 years ago in 1934, MAYO EMPLOYEES FEDERAL CREDIT UNION has about 70,718 members and employs 123 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | MAYO EMPLOYEES FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 130 23rd Ave SW ROCHESTER, MN 55902 |
| Phone: | (507) 535-1460 |
| Fax: | (507) 293-8112 |
| Website: | https://mayocreditunion.org |
| Branches: | 9 branch locations |
| Members: | 70,718 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 24748 |
|---|---|
| Membership Type: | Multiple common bond - Primarily health care |
| Corporate Credit Union: | No |
| Year Opened: | 1934 |
| Last Audited: | Dec 01, 2021 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $1,396,248,921 |
| CEO/Manager: | Mary A Hansen |
| Chairperson: | Patrick J Steward |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 54,033,078 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 1,474,182 |
| Real Estate Loans | 404,726,314 |
| Unsecured Loans | 41,833,910 |
| Other Loans | 177,092,887 |
| TOTAL LOANS | 623,653,111 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,347,745 |
| Land And Building | 20,085,268 |
| Other Fixed Assets | 4,457,630 |
| NCUSIF Deposit | 11,701,260 |
| All Other Assets | 8,420 |
| TOTAL ASSETS | 1,396,248,921 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 11,149,928 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 166,942,463 |
| Regular shares | 564,667,681 |
| All Other Shares & Deposits | 551,355,662 |
| TOTAL SHARES & DEPOSITS | 1,282,965,806 |
| TOTAL LIABILITIES | 1,294,115,734 |
| Regular Reserve | 0 |
| Other Reserves | -57,756,050 |
| Undivided Earnings | 159,889,237 |
| TOTAL EQUITY | 102,133,187 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 1,396,248,921 |
| INCOME & EXPENSE | |
| Loan Income | 15,583,205 |
| Investment Income | 6,228,811 |
| Other Income | 1,860,196 |
| Total Employee Compensation & Benefits | 7,405,592 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 8,052,041 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 239,861 |
| Cost of Funds | 3,596,188 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 11,223,169 |
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