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MORRISONS COVE 1ST FEDERAL CREDIT UNION

Mar, 31, 2022 — MORRISONS COVE 1ST FEDERAL CREDIT UNION is a federal credit union headquartered in ROARING SPRING, PA with 1 branch location and about $57.44 million in total assets. Opened 68 years ago in 1954, MORRISONS COVE 1ST FEDERAL CREDIT UNION has about 4,486 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:MORRISONS COVE 1ST FEDERAL CREDIT UNION
Address:
(Main Office)
7533 Woodbury Pike
ROARING SPRING, PA 16673
Phone:(814) 224-2744
Fax:(814) 224-5080
Website:http://www.mcove1stfcu.com
Branches:1 branch locations
Members:4,486
Credit Union Type:Federal Credit Union
Charter Number:9681
Membership Type:Multiple common bond - Primarily other manufacturing
Corporate Credit Union:No
Year Opened:1954
Last Audited:Dec 01, 2021
FHLB Member:No
Low Income Designation:No
Assets:$57,443,057
CEO/Manager:Lynnette Hamm
Chairperson:Bethann L Frederick

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 13,678,914
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 4,530,417
 Unsecured Loans 2,577,615
 Other Loans 9,610,796
 TOTAL LOANS 16,718,828
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -118,834
 Land And Building 584,245
 Other Fixed Assets 57,830
 NCUSIF Deposit 516,783
 All Other Assets 0
  TOTAL ASSETS 57,443,057
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 85,479
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 8,646,057
 Regular shares 35,047,142
 All Other Shares & Deposits 9,276,386
  TOTAL SHARES & DEPOSITS 52,969,585
  TOTAL LIABILITIES 53,055,064
 Regular Reserve 0
 Other Reserves 0
 Undivided Earnings 4,387,993
  TOTAL EQUITY 4,387,993
  TOTAL LIABILITIES, SHARES, & EQUITY 57,443,057
INCOME & EXPENSE  
 Loan Income 137,792
 Investment Income 72,799
 Other Income 10,293
 Total Employee Compensation & Benefits 126,565
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 139,917
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 8,158
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -19,105
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