Jun, 30, 2024 — MEMBERSOURCE CREDIT UNION is a federally insured state chartered credit union headquartered in HOUSTON, TX with 3 branch locations and about $218.77 million in total assets. Opened 67 years ago in 1958, MEMBERSOURCE CREDIT UNION has about 16,842 members and employs 55 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| 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: | 16,842 |
| 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, 2021 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $218,769,207 |
| CEO/Manager: | Kenneth Harrington |
| Chairperson: | Jeremy Smith |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 7,584,167 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 44,643,839 |
| Unsecured Loans | 18,838,406 |
| Other Loans | 98,922,582 |
| TOTAL LOANS | 162,404,827 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -568,056 |
| Land And Building | 5,490,694 |
| Other Fixed Assets | 473,003 |
| NCUSIF Deposit | 1,812,460 |
| All Other Assets | 4,131 |
| TOTAL ASSETS | 218,769,207 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 28,807 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 1,512,274 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 54,805,800 |
| Regular shares | 89,696,095 |
| All Other Shares & Deposits | 53,543,539 |
| TOTAL SHARES & DEPOSITS | 198,045,434 |
| TOTAL LIABILITIES | 199,586,515 |
| Regular Reserve | 0 |
| Other Reserves | -246,163 |
| Undivided Earnings | 19,428,855 |
| TOTAL EQUITY | 19,182,692 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 218,769,207 |
| INCOME & EXPENSE | |
| Loan Income | 4,448,868 |
| Investment Income | 322,260 |
| Other Income | 657,193 |
| Total Employee Compensation & Benefits | 3,288,000 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 2,984,621 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 212,182 |
| Cost of Funds | 240,435 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 310,828 |
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