Sep, 30, 2025 — MADISON EDUCATION ASSOC. CREDIT UNION is a federally insured state chartered credit union headquartered in MADISON, FL with 1 branch location and about $7.25 million in total assets. Opened 63 years ago in 1963, MADISON EDUCATION ASSOC. CREDIT UNION has about 762 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) | 373 NE Sumter St MADISON, FL 32340-2540 |
| Phone: | (850) 973-3132 |
| Fax: | (850) 973-8444 |
| Website: | https://madisoncuonline.org |
| Branches: | 1 branch locations |
| Members: | 762 |
| 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, 2024 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $7,248,125 |
| CEO/Manager: | Gena K Shiver |
| Chairperson: | Joseph M Akerman |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 305,088 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 248,570 |
| Other Loans | 3,193,055 |
| TOTAL LOANS | 3,441,625 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -17,782 |
| Land And Building | 0 |
| Other Fixed Assets | 17 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 55,602 |
| All Other Assets | 0 |
| TOTAL ASSETS | 7,248,125 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 65,781 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 66,717 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 0 |
| Regular shares | 3,984,929 |
| All Other Shares & Deposits | 2,106,026 |
| TOTAL SHARES & DEPOSITS | 6,090,955 |
| TOTAL LIABILITIES | 6,223,453 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 1,024,672 |
| TOTAL EQUITY | 1,024,672 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 7,248,125 |
| INCOME & EXPENSE | |
| Loan Income | 165,126 |
| Investment Income | 87,712 |
| Other Income | 8,549 |
| Total Employee Compensation & Benefits | 90,324 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 41,034 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 13,866 |
| Cost of Funds | 92,671 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 35,647 |
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