Dec, 31, 2023 — MUNICIPAL CREDIT UNION (MCU) is a federally insured state chartered credit union headquartered in NEW YORK, NY with 15 branch locations and about $4.22 billion in total assets. Opened 107 years ago in 1917, MUNICIPAL CREDIT UNION (MCU) has about 609,429 members and employs 575 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: | 15 branch locations |
| Members: | 609,429 |
| 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, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $4,218,999,365 |
| CEO/Manager: | Kyle Markland |
| Chairperson: | Thomas Canty |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 486,926,129 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 1,357,205,560 |
| Unsecured Loans | 632,285,945 |
| Other Loans | 579,109,554 |
| TOTAL LOANS | 2,568,601,059 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -62,803,822 |
| Land And Building | 0 |
| Other Fixed Assets | 11,952,800 |
| NCUSIF Deposit | 37,736,744 |
| All Other Assets | 0 |
| TOTAL ASSETS | 4,218,999,365 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 455,783 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 104,530,593 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 733,362,520 |
| Regular shares | 2,554,667,189 |
| All Other Shares & Deposits | 514,462,136 |
| TOTAL SHARES & DEPOSITS | 3,802,491,845 |
| TOTAL LIABILITIES | 3,907,478,221 |
| Regular Reserve | 0 |
| Other Reserves | -109,496,012 |
| Undivided Earnings | 421,017,156 |
| TOTAL EQUITY | 311,521,144 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 4,218,999,365 |
| INCOME & EXPENSE | |
| Loan Income | 144,524,426 |
| Investment Income | 39,488,213 |
| Other Income | 37,857,830 |
| Total Employee Compensation & Benefits | 64,065,797 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 91,322,460 |
| Non-operating Income & (Expense) | 152,641 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 41,994,337 |
| Cost of Funds | 10,907,541 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 71,545,889 |
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