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National Credit Union Service Organization

MEMPHIS CITY EMPLOYEES CREDIT UNION

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.


ABA Routing Number: 284084208
Name:MEMPHIS CITY EMPLOYEES CREDIT UNION
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
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

Call Report

  • First Time Homebuyer Program
  • International Remittances

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
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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