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MEMBERSOURCE CREDIT UNION

Dec, 31, 2023 — MEMBERSOURCE CREDIT UNION is a federally insured state chartered credit union headquartered in HOUSTON, TX with 3 branch locations and about $196.19 million in total assets. Opened 66 years ago in 1958, MEMBERSOURCE CREDIT UNION has about 15,223 members and employs 51 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 313084904
Name:MEMBERSOURCE CREDIT UNION
Address:
(Main Office)
10100 Richmond Ave
HOUSTON, TX 77042
Phone:(713) 627-4000
Fax:(713) 244-3300
Website:https://www.membersourcecu.org
Branches:3 branch locations
Members:15,223
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:68440
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1958
Last Audited:Dec 01, 2022
FHLB Member:Yes
Low Income Designation:No
Assets:$196,190,120
CEO/Manager:Kenneth Harrington
Chairperson:Jeremy Smith

Call Report

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Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 4,275,408
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 49,886,943
 Unsecured Loans 20,205,555
 Other Loans 81,616,467
 TOTAL LOANS 151,708,965
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -729,971
 Land And Building 5,308,487
 Other Fixed Assets 364,357
 NCUSIF Deposit 1,678,709
 All Other Assets 72,287
  TOTAL ASSETS 196,190,120
LIABILITIES & CAPITAL:  
 Dividends Payable 126,360
 Notes & Interest Payable 1,000,000
 Accounts Payable & Other Liabilities 1,933,547
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 45,932,138
 Regular shares 70,294,881
 All Other Shares & Deposits 56,767,147
  TOTAL SHARES & DEPOSITS 172,994,166
  TOTAL LIABILITIES 176,054,073
 Regular Reserve 0
 Other Reserves 935,597
 Undivided Earnings 19,200,450
  TOTAL EQUITY 20,136,047
  TOTAL LIABILITIES, SHARES, & EQUITY 196,190,120
INCOME & EXPENSE  
 Loan Income 7,035,521
 Investment Income 452,415
 Other Income 962,472
 Total Employee Compensation & Benefits 4,247,322
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 4,079,895
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 548,392
 Cost of Funds 1,475,874
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -360,302
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