Sep, 30, 2021 — MCU FINANCIAL CENTER CREDIT UNION is a federally insured state chartered credit union headquartered in Racine, WI with 1 branch location and about $30.05 million in total assets. Opened 83 years ago in 1939, MCU FINANCIAL CENTER CREDIT UNION has about 3,153 members and employs 9 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: | 3,153 |
| 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, 2020 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $30,045,002 |
| CEO/Manager: | Brannan D Hood |
| Chairperson: | Jeffrey Passarelli |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 5,241,800 |
| TOTAL INVESTMENTS | 2,121,180 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 4,361,064 |
| Unsecured Loans | 765,303 |
| Other Loans | 16,486,350 |
| TOTAL LOANS | 21,612,717 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -48,469 |
| Land And Building | 626,083 |
| Other Fixed Assets | 70,211 |
| NCUSIF Deposit | 264,091 |
| All Other Assets | 157,389 |
| TOTAL ASSETS | 30,045,002 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 1,102 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 149,988 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 4,808,689 |
| Regular shares | 13,758,843 |
| All Other Shares & Deposits | 8,702,618 |
| TOTAL SHARES & DEPOSITS | 27,270,150 |
| TOTAL LIABILITIES | 27,421,240 |
| Regular Reserve | 1,935,684 |
| Other Reserves | 2,528 |
| Undivided Earnings | 685,550 |
| TOTAL EQUITY | 2,623,762 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 30,045,002 |
| INCOME & EXPENSE | |
| Loan Income | 607,191 |
| Investment Income | 33,421 |
| Other Income | 83,556 |
| Total Employee Compensation & Benefits | 306,635 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 306,129 |
| Non-operating Income & (Expense) | 11,571 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 3,150 |
| Cost of Funds | 33,180 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 86,645 |
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