Dec, 31, 2020 — MCU FINANCIAL CENTER CREDIT UNION is a federally insured state chartered credit union headquartered in Racine, WI with 1 branch location and about $30.07 million in total assets. Opened 82 years ago in 1939, MCU FINANCIAL CENTER CREDIT UNION has about 3,160 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: | MCU FINANCIAL CENTER CREDIT UNION |
|---|---|
| Address: (Main Office) | PO Box 085300 Racine, WI 53408-5300 |
| Phone: | (262) 634-6691 |
| Fax: | (262) 634-1210 |
| Website: | http://www.mcucreditunion.com |
| Branches: | 1 branch locations |
| Members: | 3,160 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 66878 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1939 |
| Last Audited: | Dec 01, 2019 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $30,071,851 |
| CEO/Manager: | Richard A Delfs |
| Chairperson: | Jeffrey Passarelli |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 6,396,371 |
| TOTAL INVESTMENTS | 1,221,607 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 4,764,683 |
| Unsecured Loans | 833,746 |
| Other Loans | 15,732,956 |
| TOTAL LOANS | 21,331,385 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -80,849 |
| Land And Building | 652,874 |
| Other Fixed Assets | 78,361 |
| NCUSIF Deposit | 199,508 |
| All Other Assets | 272,594 |
| TOTAL ASSETS | 30,071,851 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 1,455 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 56,328 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 4,205,562 |
| Regular shares | 12,951,933 |
| All Other Shares & Deposits | 10,322,390 |
| TOTAL SHARES & DEPOSITS | 27,479,885 |
| TOTAL LIABILITIES | 27,537,668 |
| Regular Reserve | 1,935,684 |
| Other Reserves | 0 |
| Undivided Earnings | 598,499 |
| TOTAL EQUITY | 2,534,183 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 30,071,851 |
| INCOME & EXPENSE | |
| Loan Income | 836,457 |
| Investment Income | 29,489 |
| Other Income | 119,193 |
| Total Employee Compensation & Benefits | 365,640 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 366,163 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 56,500 |
| Cost of Funds | 61,481 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 135,355 |
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