Dec, 31, 2023 — MEMPHIS CITY EMPLOYEES CREDIT UNION is a federally insured state chartered credit union headquartered in MEMPHIS, TN with 6 branch locations and about $443.26 million in total assets. Opened 65 years ago in 1959, MEMPHIS CITY EMPLOYEES CREDIT UNION has about 42,881 members and employs 93 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | MEMPHIS CITY EMPLOYEES CREDIT UNION |
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Address: (Main Office) | 2686 Mount Moriah Ter MEMPHIS, TN 38115 |
Phone: | (901) 321-1200 |
Fax: | (901) 202-9712 |
Website: | https://www.memphiscu.org |
Branches: | 6 branch locations |
Members: | 42,881 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 60239 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1959 |
Last Audited: | Jun 01, 2023 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $443,259,152 |
CEO/Manager: | Kenneth Swann |
Chairperson: | James Sturdivant |
ASSETS: | $ Amount |
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Cash & Equivalents | 23,566,725 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 127,731,774 |
Unsecured Loans | 35,673,975 |
Other Loans | 100,077,980 |
TOTAL LOANS | 263,483,729 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -7,003,495 |
Land And Building | 2,855,235 |
Other Fixed Assets | 247,994 |
NCUSIF Deposit | 3,703,530 |
All Other Assets | 0 |
TOTAL ASSETS | 443,259,152 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 9,923,856 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 72,596,322 |
Regular shares | 190,372,545 |
All Other Shares & Deposits | 112,337,657 |
TOTAL SHARES & DEPOSITS | 375,306,524 |
TOTAL LIABILITIES | 385,230,380 |
Regular Reserve | 0 |
Other Reserves | -7,641,193 |
Undivided Earnings | 65,669,965 |
TOTAL EQUITY | 58,028,772 |
TOTAL LIABILITIES, SHARES, & EQUITY | 443,259,152 |
INCOME & EXPENSE | |
Loan Income | 13,563,557 |
Investment Income | 1,986,081 |
Other Income | 5,444,124 |
Total Employee Compensation & Benefits | 9,619,035 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 9,506,322 |
Non-operating Income & (Expense) | 50,268 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 2,194,000 |
Cost of Funds | 2,687,447 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 2,079,306 |
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