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ELECTRIC MACHINERY EMPLOYEES CREDIT UNION

Jun, 30, 2023 — ELECTRIC MACHINERY EMPLOYEES CREDIT UNION is a federally insured state chartered credit union headquartered in MINNEAPOLIS, MN with 1 branch location and about $8.81 million in total assets. Opened 78 years ago in 1946, ELECTRIC MACHINERY EMPLOYEES CREDIT UNION has about 1,027 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:1,027
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, 2021
FHLB Member:No
Low Income Designation:No
Assets:$8,814,243
CEO/Manager:Greg D Ericson
Chairperson:Richard Gross

Call Report

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 193,350
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 651,836
 Unsecured Loans 371,360
 Other Loans 3,852,296
 TOTAL LOANS 4,875,492
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -34,933
 Land And Building 0
 Other Fixed Assets 0
 NCUSIF Deposit 65,859
 All Other Assets 0
  TOTAL ASSETS 8,814,243
LIABILITIES & CAPITAL:  
 Dividends Payable 5,495
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 7,363
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 0
 Regular shares 4,531,642
 All Other Shares & Deposits 1,952,312
  TOTAL SHARES & DEPOSITS 6,483,954
  TOTAL LIABILITIES 6,496,812
 Regular Reserve 0
 Other Reserves 0
 Undivided Earnings 2,317,431
  TOTAL EQUITY 2,317,431
  TOTAL LIABILITIES, SHARES, & EQUITY 8,814,243
INCOME & EXPENSE  
 Loan Income 189,008
 Investment Income 28,883
 Other Income 671
 Total Employee Compensation & Benefits 108,312
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 98,589
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 5,068
 Cost of Funds 12,780
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 40,826
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