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MADISON EDUCATION ASSOC. CREDIT UNION

Mar, 31, 2022 — MADISON EDUCATION ASSOC. CREDIT UNION is a federally insured state chartered credit union headquartered in MADISON, FL with 1 branch location and about $6.88 million in total assets. Opened 59 years ago in 1963, MADISON EDUCATION ASSOC. CREDIT UNION has about 803 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:http://madisoncuonline.org
Branches:1 branch locations
Members:803
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, 2021
FHLB Member:No
Low Income Designation:No
Assets:$6,875,243
CEO/Manager:Gena K Shiver
Chairperson:Joseph M Akerman

Call Report

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 300,018
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 189,193
 Other Loans 2,085,051
 TOTAL LOANS 2,274,244
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -11,470
 Land And Building 0
 Other Fixed Assets 832
 NCUSIF Deposit 53,296
 All Other Assets 0
  TOTAL ASSETS 6,875,243
LIABILITIES & CAPITAL:  
 Dividends Payable 3,509
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 63,306
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 0
 Regular shares 5,858,029
 All Other Shares & Deposits 0
  TOTAL SHARES & DEPOSITS 5,858,029
  TOTAL LIABILITIES 5,924,844
 Regular Reserve 0
 Other Reserves 117,483
 Undivided Earnings 832,916
  TOTAL EQUITY 950,399
  TOTAL LIABILITIES, SHARES, & EQUITY 6,875,243
INCOME & EXPENSE  
 Loan Income 33,349
 Investment Income 20,627
 Other Income 1,807
 Total Employee Compensation & Benefits 29,772
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 12,831
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 3,509
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 9,896
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