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MEMBERS 1ST CREDIT UNION

Dec, 31, 2023 — MEMBERS 1ST CREDIT UNION is a federally insured state chartered credit union headquartered in REDDING, CA with 6 branch locations and about $317.74 million in total assets. Opened 88 years ago in 1936, MEMBERS 1ST CREDIT UNION has about 24,073 members and employs 64 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: 321174738
Name:MEMBERS 1ST CREDIT UNION
Address:
(Main Office)
4710 Mountain Lakes Blvd
REDDING, CA 96003
Phone:(530) 222-6060
Fax:(530) 221-5532
Website:https://www.m1cu.org
Branches:6 branch locations
Members:24,073
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:62677
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1936
Last Audited:Jun 01, 2023
FHLB Member:Yes
Low Income Designation:No
Assets:$317,741,113
CEO/Manager:Caroline Redmann
Chairperson:Ken Reed

Call Report

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  • International Remittances

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 23,012,881
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 82,050,154
 Unsecured Loans 9,133,709
 Other Loans 154,560,609
 TOTAL LOANS 249,063,175
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -972,323
 Land And Building 5,777,213
 Other Fixed Assets 816,887
 NCUSIF Deposit 2,832,843
 All Other Assets 182,526
  TOTAL ASSETS 317,741,113
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 3,983,357
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 58,373,207
 Regular shares 132,027,883
 All Other Shares & Deposits 95,060,483
  TOTAL SHARES & DEPOSITS 285,461,572
  TOTAL LIABILITIES 289,444,929
 Regular Reserve 0
 Other Reserves 3,894,842
 Undivided Earnings 24,401,342
  TOTAL EQUITY 28,296,184
  TOTAL LIABILITIES, SHARES, & EQUITY 317,741,113
INCOME & EXPENSE  
 Loan Income 10,448,742
 Investment Income 1,015,738
 Other Income 1,029,734
 Total Employee Compensation & Benefits 5,383,234
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 4,647,799
 Non-operating Income & (Expense) 111,752
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 526,989
 Cost of Funds 1,445,500
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 2,756,114
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