Dec, 31, 2021 — MORTON CREDIT UNION is a federally insured state chartered credit union headquartered in SOUTH HUTCHINSON, KS with 1 branch location and about $5.48 million in total assets. Opened 81 years ago in 1941, MORTON CREDIT UNION has about 819 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: | 819 |
| 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, 2020 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $5,480,256 |
| CEO/Manager: | Christina Gardner |
| Chairperson: | Pam Babcock |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 2,392,303 |
| TOTAL INVESTMENTS | 816,834 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 393,751 |
| Other Loans | 1,892,443 |
| TOTAL LOANS | 2,286,194 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -82,904 |
| Land And Building | 4,674 |
| Other Fixed Assets | 4,526 |
| NCUSIF Deposit | 42,433 |
| All Other Assets | 16,196 |
| TOTAL ASSETS | 5,480,256 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 38 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 26,908 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 828,032 |
| Regular shares | 2,222,084 |
| All Other Shares & Deposits | 1,766,516 |
| TOTAL SHARES & DEPOSITS | 4,816,632 |
| TOTAL LIABILITIES | 4,843,578 |
| Regular Reserve | 84,688 |
| Other Reserves | 375,363 |
| Undivided Earnings | 176,627 |
| TOTAL EQUITY | 636,678 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 5,480,256 |
| INCOME & EXPENSE | |
| Loan Income | 178,226 |
| Investment Income | 3,541 |
| Other Income | 53,817 |
| Total Employee Compensation & Benefits | 110,969 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 157,517 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 24,000 |
| Cost of Funds | 7,839 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -16,069 |
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