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RACINE MUNICIPAL EMPLOYEES CREDIT UNION

Mar, 31, 2022 — RACINE MUNICIPAL EMPLOYEES CREDIT UNION is a federally insured state chartered credit union headquartered in RACINE, WI with 1 branch location and about $22.33 million in total assets. Opened 69 years ago in 1953, RACINE MUNICIPAL EMPLOYEES CREDIT UNION has about 1,850 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 Ave
RACINE, WI 53405-3706
Phone:(262) 637-7274
Fax:(262) 637-0491
Website:rmecu.org
Branches:1 branch locations
Members:1,850
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, 2021
FHLB Member:No
Low Income Designation:No
Assets:$22,326,535
CEO/Manager:Nicole M Christensen-Zabler
Chairperson:WILLIE MCDONALD

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 3,102,127
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 5,464,368
 Unsecured Loans 372,162
 Other Loans 7,736,375
 TOTAL LOANS 13,572,905
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -25,848
 Land And Building 69,808
 Other Fixed Assets 26,748
 NCUSIF Deposit 156,755
 All Other Assets 0
  TOTAL ASSETS 22,326,535
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 136,342
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 4,262,574
 Regular shares 13,203,658
 All Other Shares & Deposits 2,314,385
  TOTAL SHARES & DEPOSITS 19,780,617
  TOTAL LIABILITIES 19,916,959
 Regular Reserve 0
 Other Reserves 362,462
 Undivided Earnings 2,047,114
  TOTAL EQUITY 2,409,576
  TOTAL LIABILITIES, SHARES, & EQUITY 22,326,535
INCOME & EXPENSE  
 Loan Income 107,464
 Investment Income 11,895
 Other Income 18,110
 Total Employee Compensation & Benefits 60,327
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 80,039
 Non-operating Income & (Expense) 523
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 5,720
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 23,022
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