Dec, 31, 2023 — MEMBERS CHOICE CREDIT UNION is a federally insured state chartered credit union headquartered in ASHLAND, KY with 9 branch locations and about $402.45 million in total assets. Opened 92 years ago in 1932, MEMBERS CHOICE CREDIT UNION has about 24,342 members and employs 84 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | MEMBERS CHOICE CREDIT UNION |
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Address: (Main Office) | 145 RUSSELL RD ASHLAND, KY 41101 |
Phone: | (606) 329-7876 |
Fax: | |
Website: | https://www.mccu.net |
Branches: | 9 branch locations |
Members: | 24,342 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 62026 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1932 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $402,454,826 |
CEO/Manager: | Jason A Suman |
Chairperson: | DON NEIKIRK |
ASSETS: | $ Amount |
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Cash & Equivalents | 13,081,228 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 144,174,570 |
Unsecured Loans | 36,052,739 |
Other Loans | 82,010,844 |
TOTAL LOANS | 262,238,153 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -814,441 |
Land And Building | 5,243,660 |
Other Fixed Assets | 8,377,757 |
NCUSIF Deposit | 3,456,200 |
All Other Assets | 0 |
TOTAL ASSETS | 402,454,826 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 9,500,000 |
Accounts Payable & Other Liabilities | 781,608 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 31,458,600 |
Regular shares | 88,376,249 |
All Other Shares & Deposits | 243,730,261 |
TOTAL SHARES & DEPOSITS | 363,565,110 |
TOTAL LIABILITIES | 373,846,718 |
Regular Reserve | 0 |
Other Reserves | -899,163 |
Undivided Earnings | 29,507,271 |
TOTAL EQUITY | 28,608,108 |
TOTAL LIABILITIES, SHARES, & EQUITY | 402,454,826 |
INCOME & EXPENSE | |
Loan Income | 14,069,205 |
Investment Income | 3,589,481 |
Other Income | 3,882,328 |
Total Employee Compensation & Benefits | 6,799,125 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 7,716,693 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 1,066,992 |
Cost of Funds | 7,428,059 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | -1,924,415 |
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