MEM FEDERAL CREDIT UNION is no longer an active credit union according to the NCUA. If available, you can view their website at https://www.memfcu.org for more information.
Dec, 31, 2023 — MEM FEDERAL CREDIT UNION is a federal credit union headquartered in Pittsburgh, PA with 1 branch location and about $21.15 million in total assets. Opened 89 years ago in 1935, MEM FEDERAL CREDIT UNION has about 1,811 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: | MEM FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | PO Box 18269 Pittsburgh, PA 15236 |
| Phone: | (412) 943-1050 |
| Fax: | (412) 943-1014 |
| Website: | https://www.memfcu.org |
| Branches: | 1 branch locations |
| Members: | 1,811 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 276 |
|---|---|
| Membership Type: | Multiple common bond - Primarily federal, state, local government |
| Corporate Credit Union: | No |
| Year Opened: | 1935 |
| Last Audited: | Jun 01, 2020 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $21,152,708 |
| CEO/Manager: | Timothy A Irons |
| Chairperson: | Marlene D Ackman |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 8,838,499 |
| TOTAL INVESTMENTS | 6,755,720 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 1,722,370 |
| Unsecured Loans | 631,010 |
| Other Loans | 2,984,942 |
| TOTAL LOANS | 5,338,322 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -24,033 |
| Land And Building | 0 |
| Other Fixed Assets | 3,094 |
| NCUSIF Deposit | 185,291 |
| All Other Assets | 55,815 |
| TOTAL ASSETS | 21,152,708 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | -446 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 3,625,359 |
| Regular shares | 14,244,238 |
| All Other Shares & Deposits | 1,236,297 |
| TOTAL SHARES & DEPOSITS | 19,105,894 |
| TOTAL LIABILITIES | 19,105,448 |
| Regular Reserve | 287,255 |
| Other Reserves | 0 |
| Undivided Earnings | 1,760,005 |
| TOTAL EQUITY | 2,047,260 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 21,152,708 |
| INCOME & EXPENSE | |
| Loan Income | 118,507 |
| Investment Income | 52,255 |
| Other Income | 20,935 |
| Total Employee Compensation & Benefits | 140,818 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 105,644 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | -163 |
| Cost of Funds | 5,969 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -53,592 |
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» See also Statement of Financial Condition