MUTUAL CREDIT UNION is no longer an active credit union according to the NCUA. If available, you can view their website at https://www.mutualcu.org for more information.
Dec, 31, 2023 — MUTUAL CREDIT UNION is a federally insured state chartered credit union headquartered in Vicksburg, MS with 5 branch locations and about $293.38 million in total assets. Opened 93 years ago in 1931, MUTUAL CREDIT UNION has about 23,217 members and employs 77 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | MUTUAL CREDIT UNION |
|---|---|
| Address: (Main Office) | PO Box 25 Vicksburg, MS 39181 |
| Phone: | (601) 636-7523 |
| Fax: | (601) 630-9035 |
| Website: | https://www.mutualcu.org |
| Branches: | 5 branch locations |
| Members: | 23,217 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 63584 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1931 |
| Last Audited: | Dec 01, 2021 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $293,377,735 |
| CEO/Manager: | Michael D Mathews |
| Chairperson: | Jerry Dean |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 18,054,709 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 54,809,205 |
| Unsecured Loans | 21,442,079 |
| Other Loans | 68,237,647 |
| TOTAL LOANS | 144,488,931 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,443,081 |
| Land And Building | 5,135,601 |
| Other Fixed Assets | 857,250 |
| NCUSIF Deposit | 2,541,297 |
| All Other Assets | 4,600 |
| TOTAL ASSETS | 293,377,735 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 63,286 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 2,784,318 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 43,226,491 |
| Regular shares | 108,302,806 |
| All Other Shares & Deposits | 122,670,159 |
| TOTAL SHARES & DEPOSITS | 274,199,456 |
| TOTAL LIABILITIES | 277,047,060 |
| Regular Reserve | 0 |
| Other Reserves | -16,598,543 |
| Undivided Earnings | 32,929,218 |
| TOTAL EQUITY | 16,330,675 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 293,377,735 |
| INCOME & EXPENSE | |
| Loan Income | 5,405,120 |
| Investment Income | 1,493,025 |
| Other Income | 3,330,215 |
| Total Employee Compensation & Benefits | 3,737,715 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 4,894,952 |
| Non-operating Income & (Expense) | -34,163 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 890,987 |
| Cost of Funds | 877,333 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 2,379,831 |
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