Dec, 31, 2023 — MAROON FINANCIAL CREDIT UNION is a federally insured state chartered credit union headquartered in CHICAGO, IL with 1 branch location and about $49.80 million in total assets. Opened 67 years ago in 1957, MAROON FINANCIAL CREDIT UNION has about 6,992 members and employs 12 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | MAROON FINANCIAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 5525 S Ellis Ave Ste C CHICAGO, IL 60637 |
| Phone: | (773) 702-7179 |
| Fax: | (773) 702-2903 |
| Website: | https://www.maroonfinancial.org |
| Branches: | 1 branch locations |
| Members: | 6,992 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 62497 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1957 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $49,804,738 |
| CEO/Manager: | Scott Muniz |
| Chairperson: | Christopher Heiser |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | -1,597,216 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 1,981,127 |
| Real Estate Loans | 21,043,653 |
| Unsecured Loans | 3,843,965 |
| Other Loans | 7,292,828 |
| TOTAL LOANS | 32,180,446 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -317,190 |
| Land And Building | 0 |
| Other Fixed Assets | 54,897 |
| NCUSIF Deposit | 510,605 |
| All Other Assets | 0 |
| TOTAL ASSETS | 49,804,738 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 1,575,000 |
| Accounts Payable & Other Liabilities | -4,108,765 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 9,661,055 |
| Regular shares | 22,534,441 |
| All Other Shares & Deposits | 13,494,539 |
| TOTAL SHARES & DEPOSITS | 45,690,035 |
| TOTAL LIABILITIES | 43,156,270 |
| Regular Reserve | 0 |
| Other Reserves | -235,791 |
| Undivided Earnings | 6,884,259 |
| TOTAL EQUITY | 6,648,468 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 49,804,738 |
| INCOME & EXPENSE | |
| Loan Income | 1,749,093 |
| Investment Income | 477,037 |
| Other Income | 326,471 |
| Total Employee Compensation & Benefits | 1,091,262 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,192,315 |
| Non-operating Income & (Expense) | 205,136 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 205,137 |
| Cost of Funds | 306,555 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 379,465 |
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