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MEMBERS ADVANTAGE COMMUNITY CREDIT UNION

Dec, 31, 2023 — MEMBERS ADVANTAGE COMMUNITY CREDIT UNION is a federally insured state chartered credit union headquartered in BARRE, VT with 10 branch locations and about $391.52 million in total assets. Opened 71 years ago in 1953, MEMBERS ADVANTAGE COMMUNITY CREDIT UNION has about 36,848 members and employs 101 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: 211690911
Name:MEMBERS ADVANTAGE COMMUNITY CREDIT UNION
Address:
(Main Office)
265 S Main St
BARRE, VT 05641-4815
Phone:(802) 479-9411
Fax:(802) 479-3533
Website:https://www.802cu.com
Branches:10 branch locations
Members:36,848
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:62983
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1953
Last Audited:Dec 01, 2022
FHLB Member:No
Low Income Designation:No
Assets:$391,520,034
CEO/Manager:Sean M Gammon
Chairperson:Jeff Mobus

Call Report

  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 52,210,314
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 169,855,003
 Unsecured Loans 16,661,817
 Other Loans 91,022,225
 TOTAL LOANS 277,539,045
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -2,029,845
 Land And Building 8,740,921
 Other Fixed Assets 380,121
 NCUSIF Deposit 3,527,607
 All Other Assets 365,009
  TOTAL ASSETS 391,520,034
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 2,445,372
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 81,862,258
 Regular shares 164,122,734
 All Other Shares & Deposits 101,794,536
  TOTAL SHARES & DEPOSITS 347,779,531
  TOTAL LIABILITIES 350,224,903
 Regular Reserve 0
 Other Reserves 14,841,549
 Undivided Earnings 26,453,582
  TOTAL EQUITY 41,295,131
  TOTAL LIABILITIES, SHARES, & EQUITY 391,520,034
INCOME & EXPENSE  
 Loan Income 15,932,002
 Investment Income 4,737,908
 Other Income 5,015,565
 Total Employee Compensation & Benefits 7,726,256
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 7,663,516
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 950,000
 Cost of Funds 1,303,530
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 8,192,800
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