Dec, 31, 2023 — MUTUAL SAVINGS CREDIT UNION is a federally insured state chartered credit union headquartered in HOOVER, AL with 8 branch locations and about $228.05 million in total assets. Opened 88 years ago in 1936, MUTUAL SAVINGS CREDIT UNION has about 20,859 members and employs 75 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | MUTUAL SAVINGS CREDIT UNION |
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Address: (Main Office) | 2040 Valleydale Rd HOOVER, AL 35244-2006 |
Phone: | (205) 682-1100 |
Fax: | (205) 682-1189 |
Website: | https://www.mutualsavings.org |
Branches: | 8 branch locations |
Members: | 20,859 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 60501 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1936 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $228,049,254 |
CEO/Manager: | Kendall L Speed |
Chairperson: |
ASSETS: | $ Amount |
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Cash & Equivalents | 18,211,537 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 102,531,249 |
Unsecured Loans | 5,790,657 |
Other Loans | 39,070,576 |
TOTAL LOANS | 147,392,482 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,194,255 |
Land And Building | 3,940,982 |
Other Fixed Assets | 274,456 |
NCUSIF Deposit | 1,988,333 |
All Other Assets | 698,537 |
TOTAL ASSETS | 228,049,254 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 336,122 |
Notes & Interest Payable | 11,500,000 |
Accounts Payable & Other Liabilities | 1,105,240 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 41,399,407 |
Regular shares | 84,868,709 |
All Other Shares & Deposits | 80,447,914 |
TOTAL SHARES & DEPOSITS | 206,716,030 |
TOTAL LIABILITIES | 219,657,392 |
Regular Reserve | 0 |
Other Reserves | -5,734,622 |
Undivided Earnings | 14,126,484 |
TOTAL EQUITY | 8,391,862 |
TOTAL LIABILITIES, SHARES, & EQUITY | 228,049,254 |
INCOME & EXPENSE | |
Loan Income | 6,946,857 |
Investment Income | 1,902,872 |
Other Income | 2,234,544 |
Total Employee Compensation & Benefits | 5,799,608 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 5,109,900 |
Non-operating Income & (Expense) | 172,593 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 380,000 |
Cost of Funds | 2,177,452 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 564,960 |
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