Dec, 31, 2023 — MIDWEST COMMUNITY FEDERAL CREDIT UNION is a federal credit union headquartered in DEFIANCE, OH with 4 branch locations and about $234.13 million in total assets. Opened 70 years ago in 1954, MIDWEST COMMUNITY FEDERAL CREDIT UNION has about 13,743 members and employs 59 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | MIDWEST COMMUNITY FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 8770 N State Route 66 DEFIANCE, OH 43512-8254 |
| Phone: | (419) 783-6500 |
| Fax: | (419) 783-6550 |
| Website: | https://midwestcommunity.org |
| Branches: | 4 branch locations |
| Members: | 13,743 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 9522 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1954 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $234,129,893 |
| CEO/Manager: | Josh Koenig |
| Chairperson: | Robert Florence |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 9,183,757 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 98,338,888 |
| Unsecured Loans | 13,153,877 |
| Other Loans | 55,848,097 |
| TOTAL LOANS | 167,469,830 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,285,499 |
| Land And Building | 5,072,284 |
| Other Fixed Assets | 500,933 |
| NCUSIF Deposit | 2,147,253 |
| All Other Assets | 0 |
| TOTAL ASSETS | 234,129,893 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 22,475 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 507,278 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 38,045,451 |
| Regular shares | 67,678,286 |
| All Other Shares & Deposits | 113,316,387 |
| TOTAL SHARES & DEPOSITS | 219,040,125 |
| TOTAL LIABILITIES | 219,569,878 |
| Regular Reserve | 0 |
| Other Reserves | -3,568,539 |
| Undivided Earnings | 18,128,554 |
| TOTAL EQUITY | 14,560,015 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 234,129,893 |
| INCOME & EXPENSE | |
| Loan Income | 8,387,661 |
| Investment Income | 1,121,047 |
| Other Income | 1,338,056 |
| Total Employee Compensation & Benefits | 5,349,808 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 4,064,573 |
| Non-operating Income & (Expense) | -343 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 323,000 |
| Cost of Funds | 2,216,698 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 305,880 |
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