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MONTEREY CREDIT UNION

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.


ABA Routing Number: 321173603
Name:MONTEREY CREDIT UNION
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
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

Call Report

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
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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