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MEADOW GOLD EMPLOYEES CREDIT UNION

Dec, 31, 2020 — MEADOW GOLD EMPLOYEES CREDIT UNION is a federally insured state chartered credit union headquartered in SALT LAKE CITY, UT with 1 branch location and about $5.03 million in total assets. Opened 85 years ago in 1936, MEADOW GOLD EMPLOYEES CREDIT UNION has about 497 members offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:MEADOW GOLD EMPLOYEES CREDIT UNION
Address:
(Main Office)
3691 W 1987 S
SALT LAKE CITY, UT 84104
Phone:(801) 908-7113
Fax:(801) 975-8022
Website:https://www.mgecu.org
Branches:1 branch locations
Members:497
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:67067
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1936
Last Audited:Jun 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$5,025,226
CEO/Manager:Lynn Nelson
Chairperson:Sarah Brusik

Call Report

  • Commercial Loans
  • Overdraft Lines of Credit
  • Overdraft Protection
  • Pay Day Loans
  • Real Estate Loans
  • Risk Based Loans
  • ATM/Debit Card Program
  • Commercial Share Accounts
  • Check Cashing
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 474,139
TOTAL INVESTMENTS 2,073,628
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 75,930
 Other Loans 2,383,736
 TOTAL LOANS 2,459,666
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -32,000
 Land And Building 0
 Other Fixed Assets 0
 NCUSIF Deposit 34,903
 All Other Assets 14,890
  TOTAL ASSETS 5,025,226
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 14,844
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 513,074
 Regular shares 1,438,894
 All Other Shares & Deposits 1,985,812
  TOTAL SHARES & DEPOSITS 3,937,780
  TOTAL LIABILITIES 3,952,624
 Regular Reserve 466,073
 Other Reserves 0
 Undivided Earnings 606,529
  TOTAL EQUITY 1,072,602
  TOTAL LIABILITIES, SHARES, & EQUITY 5,025,226
INCOME & EXPENSE  
 Loan Income 151,747
 Investment Income 43,781
 Other Income 67,941
 Total Employee Compensation & Benefits 130,462
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 136,288
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 17,419
 Cost of Funds 37,459
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -58,159
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