Dec, 31, 2023 — ELECTRIC MACHINERY EMPLOYEES CREDIT UNION is a federally insured state chartered credit union headquartered in MINNEAPOLIS, MN with 1 branch location and about $8.72 million in total assets. Opened 78 years ago in 1946, ELECTRIC MACHINERY EMPLOYEES CREDIT UNION has about 934 members offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | ELECTRIC MACHINERY EMPLOYEES CREDIT UNION |
|---|---|
| Address: (Main Office) | 800 CENTRAL AVE NE MINNEAPOLIS, MN 55413-2403 |
| Phone: | (612) 378-8100 |
| Fax: | (612) 378-8101 |
| Website: | https://emcu.org |
| Branches: | 1 branch locations |
| Members: | 934 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 63988 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1946 |
| Last Audited: | Oct 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $8,723,249 |
| CEO/Manager: | Greg D Ericson |
| Chairperson: | Richard Gross |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 422,478 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 612,008 |
| Unsecured Loans | 390,734 |
| Other Loans | 4,250,875 |
| TOTAL LOANS | 5,253,617 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -29,698 |
| Land And Building | 0 |
| Other Fixed Assets | 0 |
| NCUSIF Deposit | 65,419 |
| All Other Assets | 0 |
| TOTAL ASSETS | 8,723,249 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 45,031 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 8,291 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 0 |
| Regular shares | 3,579,310 |
| All Other Shares & Deposits | 2,843,858 |
| TOTAL SHARES & DEPOSITS | 6,423,169 |
| TOTAL LIABILITIES | 6,476,491 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 2,246,758 |
| TOTAL EQUITY | 2,246,758 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 8,723,249 |
| INCOME & EXPENSE | |
| Loan Income | 294,517 |
| Investment Income | 48,169 |
| Other Income | 2,207 |
| Total Employee Compensation & Benefits | 155,425 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 157,645 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 15,156 |
| Cost of Funds | 65,519 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -44,655 |
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