Sep, 30, 2025 — METCO CREDIT UNION is a federally insured state chartered credit union headquartered in CEDAR RAPIDS, IA with 1 branch location and about $57.13 million in total assets. Opened 69 years ago in 1957, METCO CREDIT UNION has about 3,271 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: | METCO CREDIT UNION |
|---|---|
| Address: (Main Office) | 115 8th Ave SW CEDAR RAPIDS, IA 52404 |
| Phone: | (319) 398-5007 |
| Fax: | (319) 398-5234 |
| Website: | https://www.metcocu.org |
| Branches: | 1 branch locations |
| Members: | 3,271 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 60013 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1957 |
| Last Audited: | Dec 01, 2024 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $57,134,797 |
| CEO/Manager: | Brad Mertens |
| Chairperson: | Ann Olson |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 7,011,199 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 24,182,227 |
| Unsecured Loans | 1,233,980 |
| Other Loans | 7,979,328 |
| TOTAL LOANS | 33,479,922 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -214,545 |
| Land And Building | 177,021 |
| Other Fixed Assets | 75,393 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 430,025 |
| All Other Assets | 0 |
| TOTAL ASSETS | 57,134,797 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 144 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 289,731 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 10,056,993 |
| Regular shares | 17,913,777 |
| All Other Shares & Deposits | 18,958,789 |
| TOTAL SHARES & DEPOSITS | 46,929,559 |
| TOTAL LIABILITIES | 47,219,434 |
| Regular Reserve | 0 |
| Other Reserves | 1,868,061 |
| Undivided Earnings | 8,047,302 |
| TOTAL EQUITY | 9,915,363 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 57,134,797 |
| INCOME & EXPENSE | |
| Loan Income | 1,591,058 |
| Investment Income | 686,320 |
| Other Income | 152,087 |
| Total Employee Compensation & Benefits | 476,507 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 636,204 |
| Non-operating Income & (Expense) | 88,033 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 38,158 |
| Cost of Funds | 441,928 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,146,791 |
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