Dec, 31, 2023 — MODESTO'S FIRST FEDERAL CREDIT UNION is a federal credit union headquartered in MODESTO, CA with 1 branch location and about $52.55 million in total assets. Opened 84 years ago in 1940, MODESTO'S FIRST FEDERAL CREDIT UNION has about 3,007 members and employs 8 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | MODESTO'S FIRST FEDERAL CREDIT UNION |
---|---|
Address: (Main Office) | 430 12th St MODESTO, CA 95354-2423 |
Phone: | (209) 521-2020 |
Fax: | (209) 521-4570 |
Website: | https://m1fcu.org |
Branches: | 1 branch locations |
Members: | 3,007 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 4022 |
---|---|
Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
Corporate Credit Union: | No |
Year Opened: | 1940 |
Last Audited: | Mar 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $52,548,144 |
CEO/Manager: | Leslie A Ramirez |
Chairperson: | Adam Boudreaux |
ASSETS: | $ Amount |
---|---|
Cash & Equivalents | 1,549,901 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 17,389,966 |
Unsecured Loans | 2,663,693 |
Other Loans | 20,368,054 |
TOTAL LOANS | 40,421,713 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -153,610 |
Land And Building | 248,094 |
Other Fixed Assets | 44,667 |
NCUSIF Deposit | 410,368 |
All Other Assets | 0 |
TOTAL ASSETS | 52,548,144 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 228,188 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 4,532,126 |
Regular shares | 24,286,805 |
All Other Shares & Deposits | 18,012,113 |
TOTAL SHARES & DEPOSITS | 46,831,044 |
TOTAL LIABILITIES | 47,059,232 |
Regular Reserve | 0 |
Other Reserves | 0 |
Undivided Earnings | 5,488,912 |
TOTAL EQUITY | 5,488,912 |
TOTAL LIABILITIES, SHARES, & EQUITY | 52,548,144 |
INCOME & EXPENSE | |
Loan Income | 2,112,039 |
Investment Income | 106,187 |
Other Income | 166,513 |
Total Employee Compensation & Benefits | 528,845 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 736,608 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 281,748 |
Cost of Funds | 722,863 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 150,654 |
↑ Back to Top |
» See also Statement of Financial Condition