Dec, 31, 2023 — MEMBERS CREDIT UNION is a federally insured state chartered credit union headquartered in WINSTON SALEM, NC with 16 branch locations and about $435.36 million in total assets. Opened 71 years ago in 1953, MEMBERS CREDIT UNION has about 49,015 members and employs 112 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 CREDIT UNION |
|---|---|
| Address: (Main Office) | 2098 Frontis Plaza Blvd Ste A WINSTON SALEM, NC 27103-5779 |
| Phone: | (336) 748-4800 |
| Fax: | (336) 748-4620 |
| Website: | https://www.memcu.com |
| Branches: | 16 branch locations |
| Members: | 49,015 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 60002 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1953 |
| Last Audited: | Dec 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $435,356,849 |
| CEO/Manager: | Robert C Donley |
| Chairperson: | William A Tittsworth |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 62,673,668 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 2,495,911 |
| Unsecured Loans | 53,598,965 |
| Other Loans | 129,565,900 |
| TOTAL LOANS | 191,283,247 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -3,346,097 |
| Land And Building | 9,239,062 |
| Other Fixed Assets | 411,537 |
| NCUSIF Deposit | 3,885,216 |
| All Other Assets | 223,938 |
| TOTAL ASSETS | 435,356,849 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 3,337,076 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 90,085,478 |
| Regular shares | 151,291,313 |
| All Other Shares & Deposits | 133,357,244 |
| TOTAL SHARES & DEPOSITS | 374,734,035 |
| TOTAL LIABILITIES | 378,071,111 |
| Regular Reserve | 0 |
| Other Reserves | 16,904,232 |
| Undivided Earnings | 40,381,506 |
| TOTAL EQUITY | 57,285,738 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 435,356,849 |
| INCOME & EXPENSE | |
| Loan Income | 14,863,794 |
| Investment Income | 6,074,822 |
| Other Income | 2,476,015 |
| Total Employee Compensation & Benefits | 7,711,004 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 6,805,845 |
| Non-operating Income & (Expense) | 47,870 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 2,949,134 |
| Cost of Funds | 2,608,370 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 6,822,722 |
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