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ECM FEDERAL CREDIT UNION

Sep, 30, 2021 — ECM FEDERAL CREDIT UNION is a federal credit union headquartered in RIDGELAND, MS with 1 branch location and about $25.65 million in total assets. Opened 54 years ago in 1967, ECM FEDERAL CREDIT UNION has about 2,125 members and employs 3 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:ECM FEDERAL CREDIT UNION
Address:
(Main Office)
P O BOX 3300
RIDGELAND, MS 39158
Phone:(601) 605-8600
Fax:(601) 605-4909
Website:http://www.ecmfcu.com
Branches:1 branch locations
Members:2,125
Credit Union Type:Federal Credit Union
Charter Number:24883
Membership Type:Multiple common bond - Primarily communications and utilities
Corporate Credit Union:No
Year Opened:1967
Last Audited:Aug 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$25,649,370
CEO/Manager:Jennifer Lovett
Chairperson:Keith Hayward

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 6,492,703
TOTAL INVESTMENTS 8,145,233
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 1,170,781
 Other Loans 9,570,466
 TOTAL LOANS 10,741,247
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -19,743
 Land And Building 0
 Other Fixed Assets 41,030
 NCUSIF Deposit 205,791
 All Other Assets 43,109
  TOTAL ASSETS 25,649,370
LIABILITIES & CAPITAL:  
 Dividends Payable 42,272
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 52,628
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 38,538
 Regular shares 22,558,971
 All Other Shares & Deposits 0
  TOTAL SHARES & DEPOSITS 22,597,509
  TOTAL LIABILITIES 22,692,409
 Regular Reserve 243,316
 Other Reserves 0
 Undivided Earnings 2,713,645
  TOTAL EQUITY 2,956,961
  TOTAL LIABILITIES, SHARES, & EQUITY 25,649,370
INCOME & EXPENSE  
 Loan Income 342,525
 Investment Income 129,044
 Other Income 1,754
 Total Employee Compensation & Benefits 195,541
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 179,293
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense -958
 Cost of Funds 105,511
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 26,903
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