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MEADOW GOLD EMPLOYEES CREDIT UNION

Jun, 30, 2021 — 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 $5.70 million in total assets. Opened 85 years ago in 1936, MEADOW GOLD EMPLOYEES CREDIT UNION has about 480 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:480
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:$5,697,491
CEO/Manager:Lynn Nelson
Chairperson:Sarah Brusik

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 1,183,722
TOTAL INVESTMENTS 2,094,810
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 78,751
 Other Loans 2,302,255
 TOTAL LOANS 2,381,006
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -20,000
 Land And Building 0
 Other Fixed Assets 0
 NCUSIF Deposit 39,378
 All Other Assets 18,575
  TOTAL ASSETS 5,697,491
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 15,769
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 519,714
 Regular shares 2,089,382
 All Other Shares & Deposits 1,997,295
  TOTAL SHARES & DEPOSITS 4,606,391
  TOTAL LIABILITIES 4,622,160
 Regular Reserve 469,719
 Other Reserves 0
 Undivided Earnings 605,612
  TOTAL EQUITY 1,075,331
  TOTAL LIABILITIES, SHARES, & EQUITY 5,697,491
INCOME & EXPENSE  
 Loan Income 72,925
 Investment Income 19,444
 Other Income 29,218
 Total Employee Compensation & Benefits 62,195
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 56,195
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense -12,000
 Cost of Funds 15,422
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 2,729
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