Dec, 31, 2023 — MEMBERS FINANCIAL FEDERAL CREDIT UNION is a federal credit union headquartered in MIDLAND, TX with 1 branch location and about $28.93 million in total assets. Opened 84 years ago in 1940, MEMBERS FINANCIAL FEDERAL CREDIT UNION has about 3,499 members and employs 9 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 FINANCIAL FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 3100 Sunburst Dr MIDLAND, TX 79707 |
| Phone: | (432) 520-3443 |
| Fax: | (432) 520-3570 |
| Website: | https://www.membersffcu.org |
| Branches: | 1 branch locations |
| Members: | 3,499 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 4020 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1940 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $28,928,505 |
| CEO/Manager: | Rebecca Wisdom |
| Chairperson: | Larry Drainer |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 3,720,816 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 3,814,292 |
| Unsecured Loans | 2,478,442 |
| Other Loans | 14,260,235 |
| TOTAL LOANS | 20,552,969 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -112,105 |
| Land And Building | 382,373 |
| Other Fixed Assets | 62,400 |
| NCUSIF Deposit | 266,000 |
| All Other Assets | 0 |
| TOTAL ASSETS | 28,928,505 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 652,741 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 3,682,229 |
| Regular shares | 11,759,104 |
| All Other Shares & Deposits | 9,853,982 |
| TOTAL SHARES & DEPOSITS | 25,295,315 |
| TOTAL LIABILITIES | 25,948,056 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 2,980,449 |
| TOTAL EQUITY | 2,980,449 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 28,928,505 |
| INCOME & EXPENSE | |
| Loan Income | 1,077,871 |
| Investment Income | 288,379 |
| Other Income | 219,399 |
| Total Employee Compensation & Benefits | 670,634 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 697,135 |
| Non-operating Income & (Expense) | 34,354 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 32,348 |
| Cost of Funds | 196,876 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 215,338 |
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