Jun, 30, 2024 — MEMORIAL CREDIT UNION is a federally insured state chartered credit union headquartered in HOUSTON, TX with 5 branch locations and about $98.00 million in total assets. Opened 71 years ago in 1953, MEMORIAL CREDIT UNION has about 10,486 members and employs 27 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | MEMORIAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 7789 Southwest fwy Ste 175 HOUSTON, TX 77074-1831 |
| Phone: | (713) 778-6300 |
| Fax: | (713) 778-6320 |
| Website: | https://www.memorialcu.org |
| Branches: | 5 branch locations |
| Members: | 10,486 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 62571 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1953 |
| Last Audited: | Jun 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $98,003,696 |
| CEO/Manager: | THOMAS ROGERS |
| Chairperson: | Paul Wenz |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 13,696,224 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 24,441,163 |
| Unsecured Loans | 7,940,275 |
| Other Loans | 45,747,223 |
| TOTAL LOANS | 78,128,661 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -471,589 |
| Land And Building | 0 |
| Other Fixed Assets | 173,608 |
| NCUSIF Deposit | 813,960 |
| All Other Assets | 29,615 |
| TOTAL ASSETS | 98,003,696 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 604,879 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 13,158,822 |
| Regular shares | 57,848,671 |
| All Other Shares & Deposits | 17,348,817 |
| TOTAL SHARES & DEPOSITS | 88,356,310 |
| TOTAL LIABILITIES | 88,961,189 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 9,042,507 |
| TOTAL EQUITY | 9,042,507 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 98,003,696 |
| INCOME & EXPENSE | |
| Loan Income | 2,846,968 |
| Investment Income | 110,278 |
| Other Income | 855,699 |
| Total Employee Compensation & Benefits | 1,636,993 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 2,004,100 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 253,500 |
| Cost of Funds | 56,563 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 780,736 |
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