Dec, 31, 2023 — MEMBERS SOURCE CREDIT UNION is a federally insured state chartered credit union headquartered in MERRILLVILLE, IN with 3 branch locations and about $90.28 million in total assets. Opened 89 years ago in 1935, MEMBERS SOURCE CREDIT UNION has about 6,150 members and employs 22 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 SOURCE CREDIT UNION |
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Address: (Main Office) | 8580 Virginia St MERRILLVILLE, IN 46410 |
Phone: | (219) 756-4141 |
Fax: | (219) 756-4120 |
Website: | https://www.ms-cu.com |
Branches: | 3 branch locations |
Members: | 6,150 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 68562 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1935 |
Last Audited: | Sep 01, 2023 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $90,277,337 |
CEO/Manager: | James E Falls |
Chairperson: | Jeffrey Perz |
ASSETS: | $ Amount |
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Cash & Equivalents | 3,679,953 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 31,230,511 |
Unsecured Loans | 2,519,244 |
Other Loans | 15,241,008 |
TOTAL LOANS | 49,274,138 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -295,961 |
Land And Building | 1,686,987 |
Other Fixed Assets | 96,634 |
NCUSIF Deposit | 788,231 |
All Other Assets | 0 |
TOTAL ASSETS | 90,277,337 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 28,116 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 497,670 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 10,480,981 |
Regular shares | 38,987,527 |
All Other Shares & Deposits | 28,854,384 |
TOTAL SHARES & DEPOSITS | 78,322,892 |
TOTAL LIABILITIES | 78,848,678 |
Regular Reserve | 0 |
Other Reserves | 246,632 |
Undivided Earnings | 11,182,027 |
TOTAL EQUITY | 11,428,659 |
TOTAL LIABILITIES, SHARES, & EQUITY | 90,277,337 |
INCOME & EXPENSE | |
Loan Income | 2,175,902 |
Investment Income | 852,312 |
Other Income | 439,094 |
Total Employee Compensation & Benefits | 1,303,774 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 1,391,918 |
Non-operating Income & (Expense) | -7,281 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 232,289 |
Cost of Funds | 471,749 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 475,664 |
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» See also Statement of Financial Condition