MORTON WEEKS FEDERAL CREDIT UNION is no longer an active credit union according to the NCUA.
Dec, 31, 2023 — MORTON WEEKS FEDERAL CREDIT UNION is a federal credit union headquartered in LYDIA, LA with 1 branch location and about $8.88 million in total assets. Opened 58 years ago in 1966, MORTON WEEKS FEDERAL CREDIT UNION has about 1,271 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: | MORTON WEEKS FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | PO BOX 456 LYDIA, LA 70569 |
| Phone: | (337) 367-5503 |
| Fax: | (337) 367-5633 |
| Website: | n/a |
| Branches: | 1 branch locations |
| Members: | 1,271 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 17334 |
|---|---|
| Membership Type: | Multiple common bond - Primarily other manufacturing |
| Corporate Credit Union: | No |
| Year Opened: | 1966 |
| Last Audited: | Jan 01, 2021 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $8,884,720 |
| CEO/Manager: | JOEL B SONGNE |
| Chairperson: | COY FITCH |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 3,678,276 |
| TOTAL INVESTMENTS | 1,592,287 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 408,900 |
| Other Loans | 3,032,439 |
| TOTAL LOANS | 3,441,339 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -3,452 |
| Land And Building | 71,648 |
| Other Fixed Assets | 8,027 |
| NCUSIF Deposit | 76,396 |
| All Other Assets | 20,199 |
| TOTAL ASSETS | 8,884,720 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 2,035 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 1,662 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 303,049 |
| Regular shares | 7,280,755 |
| All Other Shares & Deposits | 193,173 |
| TOTAL SHARES & DEPOSITS | 7,776,977 |
| TOTAL LIABILITIES | 7,780,674 |
| Regular Reserve | 467,498 |
| Other Reserves | 47,874 |
| Undivided Earnings | 588,674 |
| TOTAL EQUITY | 1,104,046 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 8,884,720 |
| INCOME & EXPENSE | |
| Loan Income | 76,768 |
| Investment Income | 8,452 |
| Other Income | 7,152 |
| Total Employee Compensation & Benefits | 52,694 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 47,567 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
| Cost of Funds | 2,876 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 11,502 |
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