Dec, 31, 2023 — MEMBERS CREDIT UNION is a federally insured state chartered credit union headquartered in WINSTON SALEM, NC with 16 branch locations and about $435.36 million in total assets. Opened 71 years ago in 1953, MEMBERS CREDIT UNION has about 49,015 members and employs 112 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 CREDIT UNION |
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Address: (Main Office) | 2098 Frontis Plaza Blvd Ste A WINSTON SALEM, NC 27103-5779 |
Phone: | (336) 748-4800 |
Fax: | (336) 748-4620 |
Website: | https://www.memcu.com |
Branches: | 16 branch locations |
Members: | 49,015 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 60002 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1953 |
Last Audited: | Dec 01, 2023 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $435,356,849 |
CEO/Manager: | Robert C Donley |
Chairperson: | William A Tittsworth |
ASSETS: | $ Amount |
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Cash & Equivalents | 62,673,668 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 2,495,911 |
Unsecured Loans | 53,598,965 |
Other Loans | 129,565,900 |
TOTAL LOANS | 191,283,247 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -3,346,097 |
Land And Building | 9,239,062 |
Other Fixed Assets | 411,537 |
NCUSIF Deposit | 3,885,216 |
All Other Assets | 223,938 |
TOTAL ASSETS | 435,356,849 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 3,337,076 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 90,085,478 |
Regular shares | 151,291,313 |
All Other Shares & Deposits | 133,357,244 |
TOTAL SHARES & DEPOSITS | 374,734,035 |
TOTAL LIABILITIES | 378,071,111 |
Regular Reserve | 0 |
Other Reserves | 16,904,232 |
Undivided Earnings | 40,381,506 |
TOTAL EQUITY | 57,285,738 |
TOTAL LIABILITIES, SHARES, & EQUITY | 435,356,849 |
INCOME & EXPENSE | |
Loan Income | 14,863,794 |
Investment Income | 6,074,822 |
Other Income | 2,476,015 |
Total Employee Compensation & Benefits | 7,711,004 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 6,805,845 |
Non-operating Income & (Expense) | 47,870 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 2,949,134 |
Cost of Funds | 2,608,370 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 6,822,722 |
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