Dec, 31, 2023 — MEMBERS COOPERATIVE CREDIT UNION is a federally insured state chartered credit union headquartered in DULUTH, MN with 12 branch locations and about $1.19 billion in total assets. Opened 88 years ago in 1936, MEMBERS COOPERATIVE CREDIT UNION has about 54,284 members and employs 209 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | MEMBERS COOPERATIVE CREDIT UNION |
|---|---|
| Address: (Main Office) | 4628 Mike Colalillo Dr DULUTH, MN 55807-2732 |
| Phone: | (800) 296-8871 |
| Fax: | |
| Website: | https://www.membersccu.org |
| Branches: | 12 branch locations |
| Members: | 54,284 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 60216 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1936 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $1,193,596,347 |
| CEO/Manager: | Stephen Ewers |
| Chairperson: | Doris A Dahl |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 41,843,102 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 709,052 |
| Real Estate Loans | 499,377,835 |
| Unsecured Loans | 12,782,710 |
| Other Loans | 426,658,327 |
| TOTAL LOANS | 938,845,883 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -5,251,193 |
| Land And Building | 26,214,548 |
| Other Fixed Assets | 4,516,450 |
| NCUSIF Deposit | 8,955,825 |
| All Other Assets | 887,429 |
| TOTAL ASSETS | 1,193,596,347 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 1,706,717 |
| Notes & Interest Payable | 109,500,000 |
| Accounts Payable & Other Liabilities | 18,918,589 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 184,897,575 |
| Regular shares | 230,426,042 |
| All Other Shares & Deposits | 548,163,745 |
| TOTAL SHARES & DEPOSITS | 963,487,362 |
| TOTAL LIABILITIES | 1,093,620,853 |
| Regular Reserve | 0 |
| Other Reserves | 12,993,436 |
| Undivided Earnings | 86,982,058 |
| TOTAL EQUITY | 99,975,494 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 1,193,596,347 |
| INCOME & EXPENSE | |
| Loan Income | 42,172,233 |
| Investment Income | 4,372,467 |
| Other Income | 5,519,541 |
| Total Employee Compensation & Benefits | 22,412,678 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 17,457,947 |
| Non-operating Income & (Expense) | -102,400 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 3,892,986 |
| Cost of Funds | 16,818,263 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 90,642 |
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