Dec, 31, 2023 — MEMBERS HERITAGE CREDIT UNION is a federally insured state chartered credit union headquartered in LEXINGTON, KY with 6 branch locations and about $522.36 million in total assets. Opened 64 years ago in 1960, MEMBERS HERITAGE CREDIT UNION has about 52,942 members and employs 90 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 HERITAGE CREDIT UNION |
|---|---|
| Address: (Main Office) | 440 Park Pl LEXINGTON, KY 40511-1829 |
| Phone: | (859) 259-3466 |
| Fax: | (859) 455-7281 |
| Website: | https://www.membersheritage.org |
| Branches: | 6 branch locations |
| Members: | 52,942 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 68661 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1960 |
| Last Audited: | Jun 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $522,362,499 |
| CEO/Manager: | Pat Ferry |
| Chairperson: | Mike Proctor |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 86,651,694 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 142,962,525 |
| Unsecured Loans | 17,767,230 |
| Other Loans | 202,292,006 |
| TOTAL LOANS | 363,021,761 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -2,390,180 |
| Land And Building | 3,315,613 |
| Other Fixed Assets | 2,751,091 |
| NCUSIF Deposit | 4,390,695 |
| All Other Assets | 0 |
| TOTAL ASSETS | 522,362,499 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 2,875,093 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 93,596,695 |
| Regular shares | 162,154,862 |
| All Other Shares & Deposits | 203,246,983 |
| TOTAL SHARES & DEPOSITS | 458,998,540 |
| TOTAL LIABILITIES | 461,873,633 |
| Regular Reserve | 0 |
| Other Reserves | 1,117,530 |
| Undivided Earnings | 59,371,336 |
| TOTAL EQUITY | 60,488,866 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 522,362,499 |
| INCOME & EXPENSE | |
| Loan Income | 17,027,958 |
| Investment Income | 5,674,765 |
| Other Income | 2,617,726 |
| Total Employee Compensation & Benefits | 7,236,171 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 9,263,419 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 600,000 |
| Cost of Funds | 5,974,510 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 4,724,830 |
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