Sep, 30, 2025 — MIAMI FEDERAL CREDIT UNION is a federal credit union headquartered in MIAMI, FL with 4 branch locations and about $46.46 million in total assets. Opened 72 years ago in 1954, MIAMI FEDERAL CREDIT UNION has about 2,607 members and employs 11 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | MIAMI FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 51 SW 1st Ave Ste 604 MIAMI, FL 33130-1611 |
| Phone: | (305) 377-1017 |
| Fax: | (305) 577-4423 |
| Website: | https://www.miamifcu.org |
| Branches: | 4 branch locations |
| Members: | 2,607 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 9287 |
|---|---|
| Membership Type: | Multiple common bond - Primarily federal, state, local government |
| Corporate Credit Union: | No |
| Year Opened: | 1954 |
| Last Audited: | Aug 01, 2024 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $46,455,303 |
| CEO/Manager: | Colin M Betty |
| Chairperson: | James A Tassone |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 4,485,409 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 20,891,033 |
| Unsecured Loans | 2,150,042 |
| Other Loans | 9,939,416 |
| TOTAL LOANS | 32,980,496 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -121,597 |
| Land And Building | 0 |
| Other Fixed Assets | 69,008 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 320,960 |
| All Other Assets | 0 |
| TOTAL ASSETS | 46,455,303 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 35,630 |
| Notes & Interest Payable | 2,400,000 |
| Accounts Payable & Other Liabilities | 53,958 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 5,795,244 |
| Regular shares | 19,803,604 |
| All Other Shares & Deposits | 12,997,395 |
| TOTAL SHARES & DEPOSITS | 38,596,247 |
| TOTAL LIABILITIES | 41,085,835 |
| Regular Reserve | 0 |
| Other Reserves | 1,290,000 |
| Undivided Earnings | 4,079,468 |
| TOTAL EQUITY | 5,369,468 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 46,455,303 |
| INCOME & EXPENSE | |
| Loan Income | 1,290,609 |
| Investment Income | 224,817 |
| Other Income | 196,175 |
| Total Employee Compensation & Benefits | 529,793 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 570,366 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 1,935 |
| Cost of Funds | 466,664 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 227,582 |
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