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MOUNTAIN GEM CREDIT UNION

Dec, 31, 2023 — MOUNTAIN GEM CREDIT UNION is a federally insured state chartered credit union headquartered in NAMPA, ID with 1 branch location and about $19.48 million in total assets. Opened 68 years ago in 1956, MOUNTAIN GEM CREDIT UNION has about 2,289 members and employs 8 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:MOUNTAIN GEM CREDIT UNION
Address:
(Main Office)
PO BOX 309
NAMPA, ID 83653
Phone:(208) 466-9455
Fax:(208) 466-5615
Website:https://www.mountaingemcu.org
Branches:1 branch locations
Members:2,289
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:65858
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1956
Last Audited:Sep 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$19,477,332
CEO/Manager:Cheri L Schaafs
Chairperson:Leroy Gillatt

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Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 9,024,183
TOTAL INVESTMENTS 133,679
Loans Held for Sale 0
 
 Real Estate Loans 2,108,749
 Unsecured Loans 631,482
 Other Loans 7,376,735
 TOTAL LOANS 10,116,966
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -109,589
 Land And Building 0
 Other Fixed Assets 58,311
 NCUSIF Deposit 169,880
 All Other Assets 83,902
  TOTAL ASSETS 19,477,332
LIABILITIES & CAPITAL:  
 Dividends Payable 4,770
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 19,743
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 3,755,474
 Regular shares 6,535,839
 All Other Shares & Deposits 8,084,475
  TOTAL SHARES & DEPOSITS 18,375,788
  TOTAL LIABILITIES 18,400,301
 Regular Reserve 353,622
 Other Reserves 0
 Undivided Earnings 723,409
  TOTAL EQUITY 1,077,031
  TOTAL LIABILITIES, SHARES, & EQUITY 19,477,332
INCOME & EXPENSE  
 Loan Income 277,964
 Investment Income 3,588
 Other Income 121,537
 Total Employee Compensation & Benefits 225,802
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 249,644
 Non-operating Income & (Expense) 1,070
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 9,586
 Cost of Funds 28,698
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -109,568
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