Dec, 31, 2023 — MIAMI FEDERAL CREDIT UNION is a federal credit union headquartered in MIAMI, FL with 4 branch locations and about $44.83 million in total assets. Opened 70 years ago in 1954, MIAMI FEDERAL CREDIT UNION has about 2,518 members and employs 10 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 |
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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: | 2,518 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 9287 |
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Membership Type: | Multiple common bond - Primarily federal, state, local government |
Corporate Credit Union: | No |
Year Opened: | 1954 |
Last Audited: | Jul 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $44,829,127 |
CEO/Manager: | Colin M Betty |
Chairperson: | James A Tassone |
ASSETS: | $ Amount |
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Cash & Equivalents | 3,900,943 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 18,299,074 |
Unsecured Loans | 2,029,200 |
Other Loans | 8,460,582 |
TOTAL LOANS | 28,788,856 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -115,984 |
Land And Building | 0 |
Other Fixed Assets | 55,574 |
NCUSIF Deposit | 318,486 |
All Other Assets | 0 |
TOTAL ASSETS | 44,829,127 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 30,176 |
Notes & Interest Payable | 3,000,000 |
Accounts Payable & Other Liabilities | 58,693 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 5,891,833 |
Regular shares | 19,364,293 |
All Other Shares & Deposits | 11,225,195 |
TOTAL SHARES & DEPOSITS | 36,481,324 |
TOTAL LIABILITIES | 39,570,193 |
Regular Reserve | 0 |
Other Reserves | 1,290,000 |
Undivided Earnings | 3,968,934 |
TOTAL EQUITY | 5,258,934 |
TOTAL LIABILITIES, SHARES, & EQUITY | 44,829,127 |
INCOME & EXPENSE | |
Loan Income | 1,310,630 |
Investment Income | 281,284 |
Other Income | 231,426 |
Total Employee Compensation & Benefits | 634,057 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 854,316 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
Cost of Funds | 381,738 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 114,888 |
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