Dec, 31, 2023 — ECM FEDERAL CREDIT UNION is a federal credit union headquartered in RIDGELAND, MS with 1 branch location and about $27.92 million in total assets. Opened 57 years ago in 1967, ECM FEDERAL CREDIT UNION has about 2,237 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: | 2,237 |
| 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, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $27,920,692 |
| CEO/Manager: | Jennifer Lovett |
| Chairperson: | Keith Hayward |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 5,043,500 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 1,315,044 |
| Other Loans | 13,833,053 |
| TOTAL LOANS | 15,148,097 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -28,536 |
| Land And Building | 0 |
| Other Fixed Assets | 24,021 |
| NCUSIF Deposit | 229,383 |
| All Other Assets | 0 |
| TOTAL ASSETS | 27,920,692 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 69,537 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 61,345 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 69,564 |
| Regular shares | 18,491,092 |
| All Other Shares & Deposits | 5,945,608 |
| TOTAL SHARES & DEPOSITS | 24,506,264 |
| TOTAL LIABILITIES | 24,637,146 |
| Regular Reserve | 0 |
| Other Reserves | 243,316 |
| Undivided Earnings | 3,040,230 |
| TOTAL EQUITY | 3,283,546 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 27,920,692 |
| INCOME & EXPENSE | |
| Loan Income | 741,114 |
| Investment Income | 350,157 |
| Other Income | 12,190 |
| Total Employee Compensation & Benefits | 297,662 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 290,755 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | -9,453 |
| Cost of Funds | 319,329 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 266,981 |
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