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ECM FEDERAL CREDIT UNION

Mar, 31, 2021 — ECM FEDERAL CREDIT UNION is a federal credit union headquartered in RIDGELAND, MS with 1 branch location and about $24.49 million in total assets. Opened 54 years ago in 1967, ECM FEDERAL CREDIT UNION has about 2,065 members 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:2,065
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:$24,489,117
CEO/Manager:Jennifer Lovett
Chairperson:Keith Hayward

Call Report

  • Commercial Loans
  • Micro Business Loans
  • Risk Based Loans
  • Share Secured Credit Cards
  • ATM/Debit Card Program
  • Commercial Share Accounts
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 5,820,344
TOTAL INVESTMENTS 9,171,938
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 1,143,752
 Other Loans 8,088,281
 TOTAL LOANS 9,232,033
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -26,496
 Land And Building 0
 Other Fixed Assets 46,102
 NCUSIF Deposit 188,103
 All Other Assets 57,093
  TOTAL ASSETS 24,489,117
LIABILITIES & CAPITAL:  
 Dividends Payable 38,451
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 38,019
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 8,377
 Regular shares 21,466,639
 All Other Shares & Deposits 0
  TOTAL SHARES & DEPOSITS 21,475,016
  TOTAL LIABILITIES 21,551,486
 Regular Reserve 243,316
 Other Reserves 0
 Undivided Earnings 2,694,315
  TOTAL EQUITY 2,937,631
  TOTAL LIABILITIES, SHARES, & EQUITY 24,489,117
INCOME & EXPENSE  
 Loan Income 113,575
 Investment Income 43,058
 Other Income 452
 Total Employee Compensation & Benefits 57,463
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 56,806
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 6,237
 Cost of Funds 38,451
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 7,573
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