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DES MOINES METRO CREDIT UNION

Dec, 31, 2023 — DES MOINES METRO CREDIT UNION is a federally insured state chartered credit union headquartered in DES MOINES, IA with 1 branch location and about $69.35 million in total assets. Opened 86 years ago in 1938, DES MOINES METRO CREDIT UNION has about 7,011 members and employs 13 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:DES MOINES METRO CREDIT UNION
Address:
(Main Office)
100 University Ave
DES MOINES, IA 50314-3121
Phone:(515) 283-4195
Fax:(515) 284-1652
Website:https://www.dmmcu.org
Branches:1 branch locations
Members:7,011
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:64380
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1938
Last Audited:Dec 01, 2022
FHLB Member:Yes
Low Income Designation:No
Assets:$69,348,336
CEO/Manager:Jim Anderson
Chairperson:David Bair

Call Report

  • Credit Builder
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 6,835,616
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 21,155,881
 Unsecured Loans 2,370,958
 Other Loans 13,870,261
 TOTAL LOANS 37,484,617
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -300,000
 Land And Building 444,143
 Other Fixed Assets 89,807
 NCUSIF Deposit 596,956
 All Other Assets 152,598
  TOTAL ASSETS 69,348,336
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 1,172,118
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 15,690,393
 Regular shares 34,558,937
 All Other Shares & Deposits 9,752,708
  TOTAL SHARES & DEPOSITS 60,002,038
  TOTAL LIABILITIES 61,174,156
 Regular Reserve 0
 Other Reserves 2,288,404
 Undivided Earnings 5,885,776
  TOTAL EQUITY 8,174,180
  TOTAL LIABILITIES, SHARES, & EQUITY 69,348,336
INCOME & EXPENSE  
 Loan Income 1,636,453
 Investment Income 862,568
 Other Income 234,862
 Total Employee Compensation & Benefits 945,058
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 1,176,022
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 237,441
 Cost of Funds 281,984
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 581,822
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