Dec, 31, 2023 — MERIDIAN CREDIT UNION is a federally insured state chartered credit union headquartered in OTTUMWA, IA with 2 branch locations and about $33.59 million in total assets. Opened 72 years ago in 1952, MERIDIAN CREDIT UNION has about 2,150 members and employs 5 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | MERIDIAN CREDIT UNION |
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Address: (Main Office) | 1206 N Jefferson St OTTUMWA, IA 52501-2020 |
Phone: | (641) 684-4207 |
Fax: | (641) 684-5557 |
Website: | https://www.mymeridiancu.org |
Branches: | 2 branch locations |
Members: | 2,150 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 64212 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1952 |
Last Audited: | Sep 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $33,585,432 |
CEO/Manager: | Brenda Wynn |
Chairperson: | Steve Allison |
ASSETS: | $ Amount |
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Cash & Equivalents | 5,318,517 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 7,156,486 |
Unsecured Loans | 1,103,807 |
Other Loans | 6,781,864 |
TOTAL LOANS | 15,042,157 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -85,087 |
Land And Building | 502,270 |
Other Fixed Assets | 76,212 |
NCUSIF Deposit | 297,633 |
All Other Assets | 0 |
TOTAL ASSETS | 33,585,432 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 5 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 60,984 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 7,461,442 |
Regular shares | 16,594,994 |
All Other Shares & Deposits | 4,500,030 |
TOTAL SHARES & DEPOSITS | 28,556,466 |
TOTAL LIABILITIES | 28,617,455 |
Regular Reserve | 0 |
Other Reserves | 792,560 |
Undivided Earnings | 4,175,417 |
TOTAL EQUITY | 4,967,977 |
TOTAL LIABILITIES, SHARES, & EQUITY | 33,585,432 |
INCOME & EXPENSE | |
Loan Income | 666,071 |
Investment Income | 447,686 |
Other Income | 76,214 |
Total Employee Compensation & Benefits | 334,579 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 558,085 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 20,000 |
Cost of Funds | 92,409 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 333,488 |
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