Mar, 31, 2022 — MORTON CREDIT UNION is a federally insured state chartered credit union headquartered in SOUTH HUTCHINSON, KS with 1 branch location and about $5.86 million in total assets. Opened 81 years ago in 1941, MORTON CREDIT UNION has about 817 members and employs 3 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | MORTON CREDIT UNION |
|---|---|
| Address: (Main Office) | 121 Morton Dr SOUTH HUTCHINSON, KS 67505-1319 |
| Phone: | (620) 665-6792 |
| Fax: | (620) 665-6859 |
| Website: | http://mortoncu.com |
| Branches: | 1 branch locations |
| Members: | 817 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 65466 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1941 |
| Last Audited: | Dec 01, 2021 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $5,858,956 |
| CEO/Manager: | Christina Gardner |
| Chairperson: | Pam Babcock |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 2,621,599 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 351,321 |
| Other Loans | 1,829,351 |
| TOTAL LOANS | 2,180,672 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -76,280 |
| Land And Building | 4,222 |
| Other Fixed Assets | 37,934 |
| NCUSIF Deposit | 42,433 |
| All Other Assets | 0 |
| TOTAL ASSETS | 5,858,956 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 32 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 18,218 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 901,668 |
| Regular shares | 2,593,492 |
| All Other Shares & Deposits | 1,720,248 |
| TOTAL SHARES & DEPOSITS | 5,215,408 |
| TOTAL LIABILITIES | 5,233,658 |
| Regular Reserve | 0 |
| Other Reserves | 375,363 |
| Undivided Earnings | 249,935 |
| TOTAL EQUITY | 625,298 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 5,858,956 |
| INCOME & EXPENSE | |
| Loan Income | 37,861 |
| Investment Income | 579 |
| Other Income | 11,990 |
| Total Employee Compensation & Benefits | 23,912 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 41,849 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 5,000 |
| Cost of Funds | 2,010 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -11,379 |
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