Dec, 31, 2023 — ROCKFORD MUNICIPAL EMPLOYEES CREDIT UNION is a federally insured state chartered credit union headquartered in ROCKFORD, IL with 1 branch location and about $24.30 million in total assets. Opened 82 years ago in 1942, ROCKFORD MUNICIPAL EMPLOYEES CREDIT UNION has about 2,782 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: | ROCKFORD MUNICIPAL EMPLOYEES CREDIT UNION |
|---|---|
| Address: (Main Office) | 634 N Church St ROCKFORD, IL 61103 |
| Phone: | (815) 316-4655 |
| Fax: | (815) 316-4717 |
| Website: | https://www.rmecu.net |
| Branches: | 1 branch locations |
| Members: | 2,782 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 62826 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1942 |
| Last Audited: | Aug 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $24,297,046 |
| CEO/Manager: | Jody- Mernack |
| Chairperson: | Wally Parson |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 4,841,040 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 715,175 |
| Unsecured Loans | 1,218,262 |
| Other Loans | 8,944,179 |
| TOTAL LOANS | 10,877,616 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -45,046 |
| Land And Building | 449,935 |
| Other Fixed Assets | 5,467 |
| NCUSIF Deposit | 226,700 |
| All Other Assets | 0 |
| TOTAL ASSETS | 24,297,046 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 65,810 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 1,888,320 |
| Regular shares | 19,224,089 |
| All Other Shares & Deposits | 82,022 |
| TOTAL SHARES & DEPOSITS | 21,194,431 |
| TOTAL LIABILITIES | 21,260,241 |
| Regular Reserve | 0 |
| Other Reserves | 618,258 |
| Undivided Earnings | 2,418,547 |
| TOTAL EQUITY | 3,036,805 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 24,297,046 |
| INCOME & EXPENSE | |
| Loan Income | 486,781 |
| Investment Income | 339,753 |
| Other Income | 67,612 |
| Total Employee Compensation & Benefits | 323,536 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 343,743 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
| Cost of Funds | 33,370 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 245,479 |
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