Dec, 31, 2023 — MUTUAL CREDIT UNION is a federal credit union headquartered in VICKSBURG, MS with 6 branch locations and about $302.00 million in total assets. Opened 93 years ago in 1931, MUTUAL CREDIT UNION has about 23,740 members and employs 81 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | MUTUAL CREDIT UNION |
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Address: (Main Office) | 1604 Cherry St VICKSBURG, MS 39180 |
Phone: | (601) 636-7523 |
Fax: | (601) 630-9035 |
Website: | https://www.mutualcu.org |
Branches: | 6 branch locations |
Members: | 23,740 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 24948 |
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Membership Type: | Multiple common bond - other |
Corporate Credit Union: | No |
Year Opened: | 1931 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $302,004,374 |
CEO/Manager: | Michael D Mathews |
Chairperson: | Jerry Dean |
ASSETS: | $ Amount |
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Cash & Equivalents | 28,175,539 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 52,964,656 |
Unsecured Loans | 30,079,142 |
Other Loans | 77,324,284 |
TOTAL LOANS | 160,368,082 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -2,300,838 |
Land And Building | 5,176,173 |
Other Fixed Assets | 1,682,403 |
NCUSIF Deposit | 2,553,668 |
All Other Assets | 139,580 |
TOTAL ASSETS | 302,004,374 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 210,841 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 4,353,373 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 44,930,848 |
Regular shares | 98,717,364 |
All Other Shares & Deposits | 129,147,783 |
TOTAL SHARES & DEPOSITS | 272,795,995 |
TOTAL LIABILITIES | 277,360,885 |
Regular Reserve | 0 |
Other Reserves | -12,967,398 |
Undivided Earnings | 37,610,887 |
TOTAL EQUITY | 24,643,489 |
TOTAL LIABILITIES, SHARES, & EQUITY | 302,004,374 |
INCOME & EXPENSE | |
Loan Income | 9,271,371 |
Investment Income | 4,023,074 |
Other Income | 4,779,482 |
Total Employee Compensation & Benefits | 5,207,767 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 7,235,480 |
Non-operating Income & (Expense) | -55,432 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 1,642,294 |
Cost of Funds | 3,191,679 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 4,173,271 |
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» See also Statement of Financial Condition