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ECM FEDERAL CREDIT UNION

Mar, 31, 2022 — ECM FEDERAL CREDIT UNION is a federal credit union headquartered in RIDGELAND, MS with 1 branch location and about $26.22 million in total assets. Opened 55 years ago in 1967, ECM FEDERAL CREDIT UNION has about 2,124 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)
665 Highland Colony Pkwy
RIDGELAND, MS 39157
Phone:(601) 605-8600
Fax:(601) 605-4909
Website:http://www.ecmfcu.com
Branches:1 branch locations
Members:2,124
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, 2021
FHLB Member:No
Low Income Designation:No
Assets:$26,217,594
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 6,753,626
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 1,226,306
 Other Loans 10,123,421
 TOTAL LOANS 11,349,727
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -11,581
 Land And Building 0
 Other Fixed Assets 42,758
 NCUSIF Deposit 205,791
 All Other Assets 0
  TOTAL ASSETS 26,217,594
LIABILITIES & CAPITAL:  
 Dividends Payable 42,306
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 74,116
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 48,141
 Regular shares 23,072,685
 All Other Shares & Deposits 0
  TOTAL SHARES & DEPOSITS 23,120,826
  TOTAL LIABILITIES 23,237,248
 Regular Reserve 0
 Other Reserves 243,316
 Undivided Earnings 2,737,030
  TOTAL EQUITY 2,980,346
  TOTAL LIABILITIES, SHARES, & EQUITY 26,217,594
INCOME & EXPENSE  
 Loan Income 122,935
 Investment Income 37,710
 Other Income 1,550
 Total Employee Compensation & Benefits 77,815
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 62,589
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense -5,061
 Cost of Funds 42,306
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -3,096
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