Dec, 31, 2023 — MCT CREDIT UNION is a non-federally insured state credit union headquartered in PORT NECHES, TX with 5 branch locations and about $355.73 million in total assets. Opened 71 years ago in 1953, MCT CREDIT UNION has about 21,156 members and employs 88 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | MCT CREDIT UNION |
|---|---|
| Address: (Main Office) | 2736 Nall St PORT NECHES, TX 77651-5204 |
| Phone: | (409) 727-1446 |
| Fax: | (409) 724-3509 |
| Website: | https://www.mctcu.org |
| Branches: | 5 branch locations |
| Members: | 21,156 |
| Credit Union Type: | Non-Federally Insured State Credit Union |
| Charter Number: | 97089 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1953 |
| Last Audited: | Mar 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $355,729,593 |
| CEO/Manager: | THAD ANGELLE |
| Chairperson: | Mike Laird |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 6,408,495 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 136,659,346 |
| Unsecured Loans | 16,862,067 |
| Other Loans | 80,191,623 |
| TOTAL LOANS | 233,777,279 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -881,348 |
| Land And Building | 10,179,035 |
| Other Fixed Assets | 963,293 |
| NCUSIF Deposit | 0 |
| All Other Assets | 0 |
| TOTAL ASSETS | 355,729,593 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 221,859 |
| Notes & Interest Payable | 8,275,000 |
| Accounts Payable & Other Liabilities | 4,575,932 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 104,152,107 |
| Regular shares | 91,815,227 |
| All Other Shares & Deposits | 116,883,857 |
| TOTAL SHARES & DEPOSITS | 312,851,191 |
| TOTAL LIABILITIES | 325,923,982 |
| Regular Reserve | 0 |
| Other Reserves | -8,728,781 |
| Undivided Earnings | 38,534,392 |
| TOTAL EQUITY | 29,805,611 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 355,729,593 |
| INCOME & EXPENSE | |
| Loan Income | 11,273,866 |
| Investment Income | 3,016,021 |
| Other Income | 1,762,175 |
| Total Employee Compensation & Benefits | 7,845,809 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 8,308,890 |
| Non-operating Income & (Expense) | 614,860 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 618,127 |
| Cost of Funds | 2,528,219 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,006,529 |
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