Dec, 31, 2023 — MIDWEST MEMBERS CREDIT UNION is a federally insured state chartered credit union headquartered in WOOD RIVER, IL with 3 branch locations and about $195.24 million in total assets. Opened 89 years ago in 1935, MIDWEST MEMBERS CREDIT UNION has about 19,978 members and employs 48 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | MIDWEST MEMBERS CREDIT UNION |
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Address: (Main Office) | 101 Wesley Dr. WOOD RIVER, IL 62095 |
Phone: | (618) 254-0605 |
Fax: | (618) 254-9219 |
Website: | https://www.midmembers.org |
Branches: | 3 branch locations |
Members: | 19,978 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 68684 |
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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: | $195,240,766 |
CEO/Manager: | Louis Bicanic |
Chairperson: | Gerard Jacquin |
ASSETS: | $ Amount |
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Cash & Equivalents | 16,365,002 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 20,997,885 |
Unsecured Loans | 7,952,351 |
Other Loans | 122,791,614 |
TOTAL LOANS | 151,741,850 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -702,430 |
Land And Building | 4,379,985 |
Other Fixed Assets | 304,939 |
NCUSIF Deposit | 1,764,623 |
All Other Assets | 0 |
TOTAL ASSETS | 195,240,766 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 42,850 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 2,337,618 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 35,579,164 |
Regular shares | 79,262,770 |
All Other Shares & Deposits | 58,384,476 |
TOTAL SHARES & DEPOSITS | 173,226,411 |
TOTAL LIABILITIES | 175,606,879 |
Regular Reserve | 0 |
Other Reserves | -1,689,969 |
Undivided Earnings | 21,323,856 |
TOTAL EQUITY | 19,633,887 |
TOTAL LIABILITIES, SHARES, & EQUITY | 195,240,766 |
INCOME & EXPENSE | |
Loan Income | 6,504,261 |
Investment Income | 989,440 |
Other Income | 1,385,439 |
Total Employee Compensation & Benefits | 2,693,062 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 3,464,839 |
Non-operating Income & (Expense) | -3,000 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 420,225 |
Cost of Funds | 1,088,396 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 2,840,734 |
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