Dec, 31, 2023 — METCO CREDIT UNION is a federally insured state chartered credit union headquartered in CEDAR RAPIDS, IA with 1 branch location and about $51.12 million in total assets. Opened 67 years ago in 1957, METCO CREDIT UNION has about 3,266 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 |
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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: | 3,266 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 60013 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1957 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $51,121,308 |
CEO/Manager: | Brad Mertens |
Chairperson: | Ann Olson |
ASSETS: | $ Amount |
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Cash & Equivalents | 7,055,049 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 22,286,498 |
Unsecured Loans | 1,101,398 |
Other Loans | 8,865,455 |
TOTAL LOANS | 32,346,734 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -148,374 |
Land And Building | 155,169 |
Other Fixed Assets | 74,524 |
NCUSIF Deposit | 416,051 |
All Other Assets | 0 |
TOTAL ASSETS | 51,121,308 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 29 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 555,933 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 10,033,476 |
Regular shares | 16,601,267 |
All Other Shares & Deposits | 16,516,486 |
TOTAL SHARES & DEPOSITS | 43,151,229 |
TOTAL LIABILITIES | 43,707,191 |
Regular Reserve | 0 |
Other Reserves | 1,685,714 |
Undivided Earnings | 5,728,403 |
TOTAL EQUITY | 7,414,117 |
TOTAL LIABILITIES, SHARES, & EQUITY | 51,121,308 |
INCOME & EXPENSE | |
Loan Income | 1,864,276 |
Investment Income | 518,403 |
Other Income | 188,856 |
Total Employee Compensation & Benefits | 636,856 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 784,008 |
Non-operating Income & (Expense) | 119,188 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 74,080 |
Cost of Funds | 373,277 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 1,065,106 |
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» See also Statement of Financial Condition