Dec, 31, 2023 — MONROE COUNTY TEACHERS FEDERAL CREDIT UNION is a federal credit union headquartered in KEY WEST, FL with 1 branch location and about $25.17 million in total assets. Opened 74 years ago in 1950, MONROE COUNTY TEACHERS FEDERAL CREDIT UNION has about 1,970 members and employs 5 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | MONROE COUNTY TEACHERS FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 1442 Kennedy Dr KEY WEST, FL 33040 |
| Phone: | (305) 296-8546 |
| Fax: | (305) 293-9588 |
| Website: | https://monroecountyteachersfcu.org |
| Branches: | 1 branch locations |
| Members: | 1,970 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 7039 |
|---|---|
| Membership Type: | Multiple common bond - Primarily educational |
| Corporate Credit Union: | No |
| Year Opened: | 1950 |
| Last Audited: | Jun 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $25,172,041 |
| CEO/Manager: | Cary Csombok |
| Chairperson: | Jane Wurst |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,973,617 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 2,552,182 |
| Unsecured Loans | 998,210 |
| Other Loans | 13,964,522 |
| TOTAL LOANS | 17,514,914 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -136,989 |
| Land And Building | 1,160,046 |
| Other Fixed Assets | 120,899 |
| NCUSIF Deposit | 202,426 |
| All Other Assets | 0 |
| TOTAL ASSETS | 25,172,041 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 11,844 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 167,500 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 2,693,513 |
| Regular shares | 7,096,357 |
| All Other Shares & Deposits | 12,768,952 |
| TOTAL SHARES & DEPOSITS | 22,558,823 |
| TOTAL LIABILITIES | 22,738,167 |
| Regular Reserve | 0 |
| Other Reserves | 208,446 |
| Undivided Earnings | 2,225,428 |
| TOTAL EQUITY | 2,433,874 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 25,172,041 |
| INCOME & EXPENSE | |
| Loan Income | 954,390 |
| Investment Income | 40,272 |
| Other Income | 166,677 |
| Total Employee Compensation & Benefits | 394,953 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 497,690 |
| Non-operating Income & (Expense) | -1 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 49,245 |
| Cost of Funds | 377,563 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -34,921 |
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» See also Statement of Financial Condition