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 |
|---|---|
| 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 |
|---|---|
| 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 |
|---|---|
| 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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