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MADISON EDUCATION ASSOC. CREDIT UNION

Jun, 30, 2021 — MADISON EDUCATION ASSOC. CREDIT UNION is a federally insured state chartered credit union headquartered in Madison, FL with 1 branch location and about $6.34 million in total assets. Opened 58 years ago in 1963, MADISON EDUCATION ASSOC. CREDIT UNION has about 808 members and employs 3 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:MADISON EDUCATION ASSOC. CREDIT UNION
Address:
(Main Office)
P O Box 449
Madison, FL 32341
Phone:(850) 973-3132
Fax:(850) 973-8444
Website:http://madisoncuonline.org
Branches:1 branch locations
Members:808
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:67630
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1963
Last Audited:Dec 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$6,343,246
CEO/Manager:Gena K Shiver
Chairperson:Joseph M Akerman

Call Report

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 440,577
TOTAL INVESTMENTS 3,670,000
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 173,731
 Other Loans 1,999,063
 TOTAL LOANS 2,172,794
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -20,151
 Land And Building 0
 Other Fixed Assets 1,696
 NCUSIF Deposit 53,296
 All Other Assets 25,034
  TOTAL ASSETS 6,343,246
LIABILITIES & CAPITAL:  
 Dividends Payable 13,218
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 54,882
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 0
 Regular shares 5,355,125
 All Other Shares & Deposits 0
  TOTAL SHARES & DEPOSITS 5,355,125
  TOTAL LIABILITIES 5,423,225
 Regular Reserve 117,483
 Other Reserves 0
 Undivided Earnings 802,538
  TOTAL EQUITY 920,021
  TOTAL LIABILITIES, SHARES, & EQUITY 6,343,246
INCOME & EXPENSE  
 Loan Income 65,043
 Investment Income 33,782
 Other Income 3,182
 Total Employee Compensation & Benefits 58,857
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 23,019
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 13,218
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 7,400
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