Dec, 31, 2023 — MEMBERS FIRST CREDIT UNION is a federally insured state chartered credit union headquartered in CORPUS CHRISTI, TX with 4 branch locations and about $175.25 million in total assets. Opened 86 years ago in 1938, MEMBERS FIRST CREDIT UNION has about 12,543 members and employs 44 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | MEMBERS FIRST CREDIT UNION |
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Address: (Main Office) | 5444 S Staples St CORPUS CHRISTI, TX 78411 |
Phone: | (361) 991-6178 |
Fax: | (361) 986-6991 |
Website: | https://www.m1st.org |
Branches: | 4 branch locations |
Members: | 12,543 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 67658 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1938 |
Last Audited: | Jun 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $175,245,592 |
CEO/Manager: | Wanda Muessel |
Chairperson: | Samuel S Shores |
ASSETS: | $ Amount |
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Cash & Equivalents | 15,554,898 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 34,812,153 |
Unsecured Loans | 8,941,597 |
Other Loans | 34,783,265 |
TOTAL LOANS | 78,537,015 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -343,983 |
Land And Building | 4,122,938 |
Other Fixed Assets | 235,994 |
NCUSIF Deposit | 1,231,263 |
All Other Assets | 16,450 |
TOTAL ASSETS | 175,245,592 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 28,852 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 2,280,338 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 31,448,709 |
Regular shares | 43,412,292 |
All Other Shares & Deposits | 60,866,209 |
TOTAL SHARES & DEPOSITS | 135,727,210 |
TOTAL LIABILITIES | 138,036,400 |
Regular Reserve | 0 |
Other Reserves | -412,955 |
Undivided Earnings | 37,622,147 |
TOTAL EQUITY | 37,209,192 |
TOTAL LIABILITIES, SHARES, & EQUITY | 175,245,592 |
INCOME & EXPENSE | |
Loan Income | 4,248,308 |
Investment Income | 2,001,037 |
Other Income | 1,384,668 |
Total Employee Compensation & Benefits | 2,564,279 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 2,659,851 |
Non-operating Income & (Expense) | 8,236 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 360,652 |
Cost of Funds | 803,064 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 2,650,305 |
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