Jun, 30, 2024 — MUNICIPAL CREDIT UNION (MCU) is a federally insured state chartered credit union headquartered in NEW YORK, NY with 16 branch locations and about $4.20 billion in total assets. Opened 108 years ago in 1917, MUNICIPAL CREDIT UNION (MCU) has about 594,408 members and employs 503 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | MUNICIPAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 22 Cortlandt St NEW YORK, NY 10007-3107 |
| Phone: | (212) 238-3300 |
| Fax: | |
| Website: | https://www.nymcu.org |
| Branches: | 16 branch locations |
| Members: | 594,408 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 60153 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1917 |
| Last Audited: | Jun 01, 2021 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $4,195,105,672 |
| CEO/Manager: | Kyle Markland |
| Chairperson: | Thomas Canty |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 584,317,376 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 1,238,458,543 |
| Unsecured Loans | 583,264,658 |
| Other Loans | 452,284,378 |
| TOTAL LOANS | 2,274,007,579 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -22,594,435 |
| Land And Building | 0 |
| Other Fixed Assets | 10,688,709 |
| NCUSIF Deposit | 37,485,880 |
| All Other Assets | 416,707 |
| TOTAL ASSETS | 4,195,105,672 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 22,768 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 88,283,908 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 749,436,749 |
| Regular shares | 2,762,755,593 |
| All Other Shares & Deposits | 388,920,287 |
| TOTAL SHARES & DEPOSITS | 3,901,112,629 |
| TOTAL LIABILITIES | 3,989,419,305 |
| Regular Reserve | 0 |
| Other Reserves | -147,178,375 |
| Undivided Earnings | 352,864,742 |
| TOTAL EQUITY | 205,686,367 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 4,195,105,672 |
| INCOME & EXPENSE | |
| Loan Income | 83,804,122 |
| Investment Income | 17,269,580 |
| Other Income | 31,456,147 |
| Total Employee Compensation & Benefits | 42,773,334 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 49,242,422 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 18,475,283 |
| Cost of Funds | 1,413,582 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 51,014,004 |
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