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MODERN EMPLOYEES FEDERAL CREDIT UNION

Jun, 30, 2021 — MODERN EMPLOYEES FEDERAL CREDIT UNION is a federal credit union headquartered in OWENSBORO, KY with 1 branch location and about $7.73 million in total assets. Opened 68 years ago in 1953, MODERN EMPLOYEES FEDERAL CREDIT UNION has about 794 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:http://www.modernefcu.net
Branches:1 branch locations
Members:794
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:Sep 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$7,729,803
CEO/Manager:Tammy Kirkpatrick
Chairperson:Kenny Payne

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 1,824,867
TOTAL INVESTMENTS 2,420,699
Loans Held for Sale 0
 
 Real Estate Loans 1,524,797
 Unsecured Loans 367,462
 Other Loans 1,450,864
 TOTAL LOANS 3,343,123
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -16,274
 Land And Building 67,880
 Other Fixed Assets 10,122
 NCUSIF Deposit 55,829
 All Other Assets 23,557
  TOTAL ASSETS 7,729,803
LIABILITIES & CAPITAL:  
 Dividends Payable 197
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 17,283
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 898,171
 Regular shares 4,857,927
 All Other Shares & Deposits 606,412
  TOTAL SHARES & DEPOSITS 6,362,510
  TOTAL LIABILITIES 6,379,990
 Regular Reserve 350,000
 Other Reserves 0
 Undivided Earnings 999,813
  TOTAL EQUITY 1,349,813
  TOTAL LIABILITIES, SHARES, & EQUITY 7,729,803
INCOME & EXPENSE  
 Loan Income 98,706
 Investment Income 6,102
 Other Income 25,276
 Total Employee Compensation & Benefits 48,996
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 79,659
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense -1,866
 Cost of Funds 2,175
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 1,501
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