Dec, 31, 2023 — THE MUNICIPAL FEDERAL CREDIT UNION is a federal credit union headquartered in SIOUX CITY, IA with 1 branch location and about $22.55 million in total assets. Opened 86 years ago in 1938, THE MUNICIPAL FEDERAL CREDIT UNION has about 2,261 members and employs 5 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | THE MUNICIPAL FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 103 Fairmount st SIOUX CITY, IA 51106 |
| Phone: | (712) 255-3400 |
| Fax: | (712) 255-1222 |
| Website: | https://www.municipalcu.com |
| Branches: | 1 branch locations |
| Members: | 2,261 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 24939 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1938 |
| Last Audited: | Dec 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $22,551,397 |
| CEO/Manager: | Michaleen M Kimsey |
| Chairperson: | Mike Hamm |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,530,441 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 5,277,016 |
| Unsecured Loans | 416,608 |
| Other Loans | 5,527,816 |
| TOTAL LOANS | 11,221,440 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -65,208 |
| Land And Building | 58,477 |
| Other Fixed Assets | 8,530 |
| NCUSIF Deposit | 198,799 |
| All Other Assets | 0 |
| TOTAL ASSETS | 22,551,397 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 13,185 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 91,134 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 5,716,034 |
| Regular shares | 12,397,414 |
| All Other Shares & Deposits | 1,523,360 |
| TOTAL SHARES & DEPOSITS | 19,636,808 |
| TOTAL LIABILITIES | 19,741,127 |
| Regular Reserve | 0 |
| Other Reserves | 2,143,330 |
| Undivided Earnings | 666,940 |
| TOTAL EQUITY | 2,810,270 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 22,551,397 |
| INCOME & EXPENSE | |
| Loan Income | 556,116 |
| Investment Income | 219,750 |
| Other Income | 126,817 |
| Total Employee Compensation & Benefits | 231,978 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 278,656 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 65,208 |
| Cost of Funds | 33,140 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 306,170 |
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