Sep, 30, 2025 — MODERN EMPLOYEES FEDERAL CREDIT UNION is a federal credit union headquartered in OWENSBORO, KY with 1 branch location and about $5.65 million in total assets. Opened 73 years ago in 1953, MODERN EMPLOYEES FEDERAL CREDIT UNION has about 517 members and employs 3 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | MODERN EMPLOYEES FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 1727 Moseley St OWENSBORO, KY 42303-3830 |
| Phone: | (270) 685-1025 |
| Fax: | (270) 685-1380 |
| Website: | https://www.modernefcu.net |
| Branches: | 1 branch locations |
| Members: | 517 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 8940 |
|---|---|
| Membership Type: | Manufacturing - Primary and Fabricated Metals |
| Corporate Credit Union: | No |
| Year Opened: | 1953 |
| Last Audited: | Dec 01, 2024 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $5,654,878 |
| CEO/Manager: | Kim Greer |
| Chairperson: | Kenny Payne |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 2,312,882 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 979,168 |
| Unsecured Loans | 352,555 |
| Other Loans | 1,138,522 |
| TOTAL LOANS | 2,470,245 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -384,601 |
| Land And Building | 53,018 |
| Other Fixed Assets | 0 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 48,574 |
| All Other Assets | 0 |
| TOTAL ASSETS | 5,654,878 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 27,418 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 930,666 |
| Regular shares | 3,612,357 |
| All Other Shares & Deposits | 609,936 |
| TOTAL SHARES & DEPOSITS | 5,152,960 |
| TOTAL LIABILITIES | 5,180,378 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 474,500 |
| TOTAL EQUITY | 474,500 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 5,654,878 |
| INCOME & EXPENSE | |
| Loan Income | 123,895 |
| Investment Income | 90,632 |
| Other Income | 33,293 |
| Total Employee Compensation & Benefits | 118,059 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 222,702 |
| Non-operating Income & (Expense) | 4,348 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 429,277 |
| Cost of Funds | 8,505 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -526,375 |
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