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THE MUNICIPAL CREDIT UNION

Dec, 31, 2023 — THE MUNICIPAL CREDIT UNION is a federally insured state chartered credit union headquartered in Sioux City, IA with 1 branch location and about $22.43 million in total assets. Opened 86 years ago in 1938, THE MUNICIPAL CREDIT UNION has about 2,294 members and employs 5 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:THE MUNICIPAL CREDIT UNION
Address:
(Main Office)
103 So. Fairmount
Sioux City, IA 51106
Phone:(712) 255-3400
Fax:(712) 255-1222
Website:https://www.municipalcu.com
Branches:1 branch locations
Members:2,294
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:64021
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1938
Last Audited:Nov 01, 2021
FHLB Member:No
Low Income Designation:No
Assets:$22,428,217
CEO/Manager:Michaleen M Kimsey
Chairperson:Mike Hamm

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 1,249,565
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 4,674,247
 Unsecured Loans 758,702
 Other Loans 4,883,092
 TOTAL LOANS 10,316,041
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -171,216
 Land And Building 66,057
 Other Fixed Assets 21,444
 NCUSIF Deposit 185,239
 All Other Assets 0
  TOTAL ASSETS 22,428,217
LIABILITIES & CAPITAL:  
 Dividends Payable 1,653
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 46,536
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 4,747,819
 Regular shares 14,119,423
 All Other Shares & Deposits 1,261,570
  TOTAL SHARES & DEPOSITS 20,128,812
  TOTAL LIABILITIES 20,177,001
 Regular Reserve 0
 Other Reserves 2,210,426
 Undivided Earnings 40,790
  TOTAL EQUITY 2,251,216
  TOTAL LIABILITIES, SHARES, & EQUITY 22,428,217
INCOME & EXPENSE  
 Loan Income 130,054
 Investment Income 12,356
 Other Income 27,575
 Total Employee Compensation & Benefits 55,383
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 68,550
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 10,000
 Cost of Funds 4,580
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 33,849
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