Jun, 30, 2024 — MORRISONS COVE 1ST FEDERAL CREDIT UNION is a federal credit union headquartered in ROARING SPRING, PA with 1 branch location and about $57.31 million in total assets. Opened 70 years ago in 1954, MORRISONS COVE 1ST FEDERAL CREDIT UNION has about 4,455 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 |
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Address: (Main Office) | 7533 Woodbury Pike ROARING SPRING, PA 16673 |
Phone: | (814) 224-2744 |
Fax: | (814) 224-5080 |
Website: | https://www.mcove1stfcu.com |
Branches: | 1 branch locations |
Members: | 4,455 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 9681 |
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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: | $57,314,954 |
CEO/Manager: | Lynnette Hamm |
Chairperson: | Bethann L Frederick |
ASSETS: | $ Amount |
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Cash & Equivalents | 10,550,011 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 5,651,904 |
Unsecured Loans | 2,818,871 |
Other Loans | 10,775,895 |
TOTAL LOANS | 19,246,670 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -128,015 |
Land And Building | 573,763 |
Other Fixed Assets | 44,196 |
NCUSIF Deposit | 511,669 |
All Other Assets | 0 |
TOTAL ASSETS | 57,314,954 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 110,204 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 9,237,578 |
Regular shares | 34,249,976 |
All Other Shares & Deposits | 9,286,973 |
TOTAL SHARES & DEPOSITS | 52,774,527 |
TOTAL LIABILITIES | 52,884,731 |
Regular Reserve | 0 |
Other Reserves | 0 |
Undivided Earnings | 4,430,223 |
TOTAL EQUITY | 4,430,223 |
TOTAL LIABILITIES, SHARES, & EQUITY | 57,314,954 |
INCOME & EXPENSE | |
Loan Income | 443,624 |
Investment Income | 300,542 |
Other Income | 33,768 |
Total Employee Compensation & Benefits | 392,470 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 436,300 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 16,026 |
Cost of Funds | 29,711 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 23,125 |
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