Dec, 31, 2022 — ECM FEDERAL CREDIT UNION is a federal credit union headquartered in RIDGELAND, MS with 1 branch location and about $26.49 million in total assets. Opened 56 years ago in 1967, ECM FEDERAL CREDIT UNION has about 2,114 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: | https://www.ecmfcu.com |
| Branches: | 1 branch locations |
| Members: | 2,114 |
| 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: | $26,486,144 |
| CEO/Manager: | Jennifer Lovett |
| Chairperson: | Keith Hayward |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 4,516,632 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 1,202,733 |
| Other Loans | 11,368,142 |
| TOTAL LOANS | 12,570,875 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -15,082 |
| Land And Building | 0 |
| Other Fixed Assets | 36,936 |
| NCUSIF Deposit | 227,827 |
| All Other Assets | 0 |
| TOTAL ASSETS | 26,486,144 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 43,508 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 76,834 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 35,554 |
| Regular shares | 23,318,884 |
| All Other Shares & Deposits | 0 |
| TOTAL SHARES & DEPOSITS | 23,354,438 |
| TOTAL LIABILITIES | 23,474,780 |
| Regular Reserve | 0 |
| Other Reserves | 243,316 |
| Undivided Earnings | 2,768,048 |
| TOTAL EQUITY | 3,011,364 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 26,486,144 |
| INCOME & EXPENSE | |
| Loan Income | 391,968 |
| Investment Income | 143,285 |
| Other Income | 5,575 |
| Total Employee Compensation & Benefits | 221,873 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 197,842 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 6,373 |
| Cost of Funds | 128,484 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 27,922 |
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