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RACINE MUNICIPAL EMPLOYEES CREDIT UNION

Mar, 31, 2021 — RACINE MUNICIPAL EMPLOYEES CREDIT UNION is a federally insured state chartered credit union headquartered in Racine, WI with 1 branch location and about $20.24 million in total assets. Opened 68 years ago in 1953, RACINE MUNICIPAL EMPLOYEES CREDIT UNION has about 1,818 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.


ABA Routing Number: 275981420
Name:RACINE MUNICIPAL EMPLOYEES CREDIT UNION
Address:
(Main Office)
1907 Lathrop Avenue
Racine, WI 53405
Phone:(262) 637-7274
Fax:(262) 637-0491
Website:http://www.rmecu.org
Branches:1 branch locations
Members:1,818
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:66622
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1953
Last Audited:Sep 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$20,239,126
CEO/Manager:Nicole M Christensen-Zabler
Chairperson:WILLIE MCDONALD

Call Report

  • Micro Consumer Loans
  • Overdraft Lines of Credit
  • Overdraft Protection
  • Participation Loans
  • Real Estate Loans
  • Risk Based Loans
  • Share Secured Credit Cards
  • ATM/Debit Card Program
  • Check Cashing
  • Health Savings Accounts
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 4,681,901
TOTAL INVESTMENTS 3,618,038
Loans Held for Sale 0
 
 Real Estate Loans 5,276,334
 Unsecured Loans 360,613
 Other Loans 5,947,289
 TOTAL LOANS 11,584,236
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -25,892
 Land And Building 74,107
 Other Fixed Assets 26,309
 NCUSIF Deposit 132,128
 All Other Assets 148,299
  TOTAL ASSETS 20,239,126
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 171,770
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 3,777,956
 Regular shares 11,867,626
 All Other Shares & Deposits 2,094,694
  TOTAL SHARES & DEPOSITS 17,740,276
  TOTAL LIABILITIES 17,912,046
 Regular Reserve 362,462
 Other Reserves 0
 Undivided Earnings 1,964,618
  TOTAL EQUITY 2,327,080
  TOTAL LIABILITIES, SHARES, & EQUITY 20,239,126
INCOME & EXPENSE  
 Loan Income 101,341
 Investment Income 14,582
 Other Income 11,474
 Total Employee Compensation & Benefits 55,116
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 76,434
 Non-operating Income & (Expense) 286
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 6,697
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 17,831
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