Dec, 31, 2023 — GARY MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION is a federal credit union headquartered in GARY, IN with 1 branch location and about $502,603 in total assets. Opened 60 years ago in 1964, GARY MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION has about 137 members and employs 3 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | GARY MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 401 Broadway GARY, IN 46402 |
| Phone: | (219) 881-1320 |
| Fax: | (219) 881-1340 |
| Website: | n/a |
| Branches: | 1 branch locations |
| Members: | 137 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 16126 |
|---|---|
| Membership Type: | Federal, State, Local Government |
| Corporate Credit Union: | No |
| Year Opened: | 1964 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $502,603 |
| CEO/Manager: | KATRINA STINSON |
| Chairperson: | KWABENA OFORI |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 148,331 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 112,073 |
| Other Loans | 0 |
| TOTAL LOANS | 112,072 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -2,187 |
| Land And Building | 0 |
| Other Fixed Assets | 0 |
| NCUSIF Deposit | 2,811 |
| All Other Assets | 0 |
| TOTAL ASSETS | 502,603 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 5,168 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 0 |
| Regular shares | 283,291 |
| All Other Shares & Deposits | 0 |
| TOTAL SHARES & DEPOSITS | 283,291 |
| TOTAL LIABILITIES | 288,459 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 214,144 |
| TOTAL EQUITY | 214,144 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 502,603 |
| INCOME & EXPENSE | |
| Loan Income | 16,563 |
| Investment Income | 10,587 |
| Other Income | 1,936 |
| Total Employee Compensation & Benefits | 12,918 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 12,852 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
| Cost of Funds | 671 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 3,536 |
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