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MUTUAL CREDIT UNION

Mar, 31, 2021 — MUTUAL CREDIT UNION is a federally insured state chartered credit union headquartered in Vicksburg, MS with 7 branch locations and about $289.20 million in total assets. Opened 90 years ago in 1931, MUTUAL CREDIT UNION has about 23,649 members and employs 70 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 CREDIT UNION
Address:
(Main Office)
PO Box 25
Vicksburg, MS 39181
Phone:(601) 636-7523
Fax:(601) 630-9035
Website:http://www.mutualcu.org
Branches:7 branch locations
Members:23,649
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:63584
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1931
Last Audited:Dec 01, 2020
FHLB Member:Yes
Low Income Designation:No
Assets:$289,197,809
CEO/Manager:Michael D Mathews
Chairperson:Jerry Dean

Call Report

  • Credit Builder
  • Overdraft Lines of Credit
  • Overdraft Protection
  • Real Estate Loans
  • Risk Based Loans
  • ATM/Debit Card Program
  • Insurance/Investment Sales
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 29,846,808
TOTAL INVESTMENTS 121,114,762
Loans Held for Sale 0
 
 Real Estate Loans 42,783,757
 Unsecured Loans 15,232,702
 Other Loans 59,353,893
 TOTAL LOANS 117,370,352
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -992,022
 Land And Building 5,565,105
 Other Fixed Assets 1,113,444
 NCUSIF Deposit 2,174,516
 All Other Assets 13,004,844
  TOTAL ASSETS 289,197,809
LIABILITIES & CAPITAL:  
 Dividends Payable 57,298
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 2,261,499
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 47,217,729
 Regular shares 106,183,901
 All Other Shares & Deposits 108,115,530
  TOTAL SHARES & DEPOSITS 261,517,160
  TOTAL LIABILITIES 263,835,957
 Regular Reserve 3,631,096
 Other Reserves -3,284,705
 Undivided Earnings 25,015,461
  TOTAL EQUITY 25,361,852
  TOTAL LIABILITIES, SHARES, & EQUITY 289,197,809
INCOME & EXPENSE  
 Loan Income 1,565,365
 Investment Income 337,240
 Other Income 819,348
 Total Employee Compensation & Benefits 1,075,648
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 1,428,234
 Non-operating Income & (Expense) -2,075
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 198,864
 Cost of Funds 198,147
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 669,682
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