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MEM FEDERAL CREDIT UNION

Mar, 31, 2021 — MEM FEDERAL CREDIT UNION is a federal credit union headquartered in Pittsburgh, PA with 1 branch location and about $21.04 million in total assets. Opened 86 years ago in 1935, MEM FEDERAL CREDIT UNION has about 1,861 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:http://www.memfcu.org
Branches:1 branch locations
Members:1,861
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:$21,039,721
CEO/Manager:Timothy A Irons
Chairperson:Marlene D Ackman

Call Report

  • Real Estate Loans
  • Share Secured Credit Cards
  • ATM/Debit Card Program
  • Check Cashing
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 7,843,808
TOTAL INVESTMENTS 7,499,720
Loans Held for Sale 0
 
 Real Estate Loans 1,782,412
 Unsecured Loans 636,210
 Other Loans 3,111,251
 TOTAL LOANS 5,529,873
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -32,080
 Land And Building 0
 Other Fixed Assets 3,606
 NCUSIF Deposit 153,625
 All Other Assets 41,169
  TOTAL ASSETS 21,039,721
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 37,220
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 3,705,158
 Regular shares 13,787,753
 All Other Shares & Deposits 1,434,684
  TOTAL SHARES & DEPOSITS 18,927,595
  TOTAL LIABILITIES 18,964,815
 Regular Reserve 287,255
 Other Reserves 0
 Undivided Earnings 1,787,651
  TOTAL EQUITY 2,074,906
  TOTAL LIABILITIES, SHARES, & EQUITY 21,039,721
INCOME & EXPENSE  
 Loan Income 60,597
 Investment Income 27,062
 Other Income 10,126
 Total Employee Compensation & Benefits 70,180
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 53,630
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 3,296
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -25,946
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