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MAX CREDIT UNION

Sep, 30, 2022 — MAX CREDIT UNION is a federally insured state chartered credit union headquartered in MONTGOMERY, AL with 17 branch locations and about $1.98 billion in total assets. Opened 68 years ago in 1955, MAX CREDIT UNION has about 118,705 members and employs 321 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: 262275958
Name:MAX CREDIT UNION
Address:
(Main Office)
400 Eastdale Cir
MONTGOMERY, AL 36117-2114
Phone:(334) 260-2600
Fax:(334) 277-5121
Website:https://www.mymax.com
Branches:17 branch locations
Members:118,705
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:68575
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1955
Last Audited:Dec 01, 2021
FHLB Member:Yes
Low Income Designation:No
Assets:$1,977,948,787
CEO/Manager:Martin E Head
Chairperson:Barbara T Starr

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Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 138,409,992
TOTAL INVESTMENTS 0
Loans Held for Sale 222,930
 
 Real Estate Loans 409,685,259
 Unsecured Loans 51,493,096
 Other Loans 521,031,243
 TOTAL LOANS 991,384,823
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -10,206,978
 Land And Building 31,401,141
 Other Fixed Assets 3,047,926
 NCUSIF Deposit 16,182,552
 All Other Assets 795,211
  TOTAL ASSETS 1,977,948,787
LIABILITIES & CAPITAL:  
 Dividends Payable 1,121,523
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 17,786,666
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 528,827,204
 Regular shares 685,405,154
 All Other Shares & Deposits 615,696,041
  TOTAL SHARES & DEPOSITS 1,829,928,399
  TOTAL LIABILITIES 1,848,836,588
 Regular Reserve 0
 Other Reserves -114,098,466
 Undivided Earnings 243,210,665
  TOTAL EQUITY 129,112,199
  TOTAL LIABILITIES, SHARES, & EQUITY 1,977,948,787
INCOME & EXPENSE  
 Loan Income 31,425,146
 Investment Income 8,966,760
 Other Income 7,290,423
 Total Employee Compensation & Benefits 20,912,248
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 21,555,007
 Non-operating Income & (Expense) 5,624
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense -361,372
 Cost of Funds 4,703,696
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 11,457,489
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