Dec, 31, 2023 — MONTEREY CREDIT UNION is a non-federally insured state credit union headquartered in MONTEREY, CA with 3 branch locations and about $290.81 million in total assets. Opened 56 years ago in 1968, MONTEREY CREDIT UNION has about 15,628 members and employs 63 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | MONTEREY CREDIT UNION |
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Address: (Main Office) | 501 E FRANKLIN ST MONTEREY, CA 93940 |
Phone: | (831) 647-1000 |
Fax: | (831) 647-1290 |
Website: | https://www.montereycu.com |
Branches: | 3 branch locations |
Members: | 15,628 |
Credit Union Type: | Non-Federally Insured State Credit Union |
Charter Number: | 97071 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1968 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $290,805,577 |
CEO/Manager: | J Wade Pryon |
Chairperson: | Peter Tansill |
ASSETS: | $ Amount |
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Cash & Equivalents | 8,607,894 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 79,529,878 |
Unsecured Loans | 2,222,431 |
Other Loans | 109,888,764 |
TOTAL LOANS | 191,641,075 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -2,466,035 |
Land And Building | 724,119 |
Other Fixed Assets | 3,502,563 |
NCUSIF Deposit | 0 |
All Other Assets | 299,693 |
TOTAL ASSETS | 290,805,577 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 14,000,000 |
Accounts Payable & Other Liabilities | 4,346,307 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 75,238,826 |
Regular shares | 73,505,053 |
All Other Shares & Deposits | 97,018,200 |
TOTAL SHARES & DEPOSITS | 245,762,078 |
TOTAL LIABILITIES | 264,108,385 |
Regular Reserve | 0 |
Other Reserves | 586,033 |
Undivided Earnings | 26,111,159 |
TOTAL EQUITY | 26,697,192 |
TOTAL LIABILITIES, SHARES, & EQUITY | 290,805,577 |
INCOME & EXPENSE | |
Loan Income | 9,456,951 |
Investment Income | 1,557,651 |
Other Income | 2,303,071 |
Total Employee Compensation & Benefits | 7,486,688 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 4,607,435 |
Non-operating Income & (Expense) | 4,103 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 746,924 |
Cost of Funds | 1,627,893 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 157,640 |
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