Dec, 31, 2023 — MEMBERS EXCHANGE CREDIT UNION is a federal credit union headquartered in RIDGELAND, MS with 3 branch locations and about $130.10 million in total assets. Opened 70 years ago in 1954, MEMBERS EXCHANGE CREDIT UNION has about 13,080 members and employs 43 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | MEMBERS EXCHANGE CREDIT UNION |
|---|---|
| Address: (Main Office) | 107 Marketridge Dr RIDGELAND, MS 39157-6027 |
| Phone: | (601) 922-3350 |
| Fax: | (601) 922-1733 |
| Website: | https://www.mecuanywhere.com |
| Branches: | 3 branch locations |
| Members: | 13,080 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 24952 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1954 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $130,103,427 |
| CEO/Manager: | Mitzi Tate |
| Chairperson: | Kenneth Allison |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 16,173,995 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 9,498,905 |
| Unsecured Loans | 9,748,103 |
| Other Loans | 46,764,765 |
| TOTAL LOANS | 66,011,773 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -574,310 |
| Land And Building | 5,300,220 |
| Other Fixed Assets | 120,607 |
| NCUSIF Deposit | 1,018,572 |
| All Other Assets | 0 |
| TOTAL ASSETS | 130,103,427 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 50,531 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 2,649,646 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 12,223,263 |
| Regular shares | 44,399,252 |
| All Other Shares & Deposits | 44,103,113 |
| TOTAL SHARES & DEPOSITS | 100,725,627 |
| TOTAL LIABILITIES | 103,425,804 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 26,677,623 |
| TOTAL EQUITY | 26,677,623 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 130,103,427 |
| INCOME & EXPENSE | |
| Loan Income | 4,604,947 |
| Investment Income | 1,438,102 |
| Other Income | 3,011,455 |
| Total Employee Compensation & Benefits | 3,777,890 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 3,566,365 |
| Non-operating Income & (Expense) | 28,949 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 399,576 |
| Cost of Funds | 942,904 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,600,699 |
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