Dec, 31, 2023 — MERIDIAN MUTUAL FEDERAL CREDIT UNION is a federal credit union headquartered in MERIDIAN, MS with 1 branch location and about $56.42 million in total assets. Opened 71 years ago in 1953, MERIDIAN MUTUAL FEDERAL CREDIT UNION has about 6,728 members and employs 18 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | MERIDIAN MUTUAL FEDERAL CREDIT UNION |
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Address: (Main Office) | 809 26th Ave MERIDIAN, MS 39301 |
Phone: | (601) 693-1900 |
Fax: | (601) 482-5748 |
Website: | https://www.meridianmutualfcu.com |
Branches: | 1 branch locations |
Members: | 6,728 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 8433 |
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Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
Corporate Credit Union: | No |
Year Opened: | 1953 |
Last Audited: | Aug 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $56,424,977 |
CEO/Manager: | Justin Branstetter |
Chairperson: | Cliff Partridge, Jr. |
ASSETS: | $ Amount |
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Cash & Equivalents | 9,201,722 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 5,004,735 |
Unsecured Loans | 2,151,075 |
Other Loans | 16,059,117 |
TOTAL LOANS | 23,214,927 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -178,140 |
Land And Building | 347,644 |
Other Fixed Assets | 31,651 |
NCUSIF Deposit | 477,248 |
All Other Assets | 0 |
TOTAL ASSETS | 56,424,977 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 18,076 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 75,924 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 10,223,482 |
Regular shares | 26,484,614 |
All Other Shares & Deposits | 12,412,668 |
TOTAL SHARES & DEPOSITS | 49,120,764 |
TOTAL LIABILITIES | 49,221,579 |
Regular Reserve | 0 |
Other Reserves | -514,936 |
Undivided Earnings | 7,718,334 |
TOTAL EQUITY | 7,203,398 |
TOTAL LIABILITIES, SHARES, & EQUITY | 56,424,977 |
INCOME & EXPENSE | |
Loan Income | 1,114,559 |
Investment Income | 818,100 |
Other Income | 1,249,563 |
Total Employee Compensation & Benefits | 750,509 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 1,294,172 |
Non-operating Income & (Expense) | 3,901 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 175,939 |
Cost of Funds | 334,128 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 631,375 |
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