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MEM FEDERAL CREDIT UNION

Jun, 30, 2021 — 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 86 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:http://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

Call Report

Financial Summary

» See also Statement of Financial Condition
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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