Dec, 31, 2023 — MOUNTAIN CREDIT UNION is a federally insured state chartered credit union headquartered in WAYNESVILLE, NC with 8 branch locations and about $340.96 million in total assets. Opened 61 years ago in 1963, MOUNTAIN CREDIT UNION has about 30,368 members and employs 75 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | MOUNTAIN CREDIT UNION |
|---|---|
| Address: (Main Office) | 1700 Russ Ave WAYNESVILLE, NC 28786-5807 |
| Phone: | (828) 456-8627 |
| Fax: | (828) 452-7383 |
| Website: | https://www.mountaincu.org |
| Branches: | 8 branch locations |
| Members: | 30,368 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 68531 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1963 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $340,964,502 |
| CEO/Manager: | Amy Woody |
| Chairperson: | Joey Webb |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 69,528,997 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 72,510,065 |
| Unsecured Loans | 19,826,209 |
| Other Loans | 129,819,748 |
| TOTAL LOANS | 222,682,694 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,882,103 |
| Land And Building | 10,274,267 |
| Other Fixed Assets | 1,446,500 |
| NCUSIF Deposit | 2,862,508 |
| All Other Assets | 125,443 |
| TOTAL ASSETS | 340,964,502 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 2,662,268 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 63,634,616 |
| Regular shares | 129,671,685 |
| All Other Shares & Deposits | 109,911,521 |
| TOTAL SHARES & DEPOSITS | 303,217,822 |
| TOTAL LIABILITIES | 305,908,793 |
| Regular Reserve | 0 |
| Other Reserves | 7,344,065 |
| Undivided Earnings | 27,711,644 |
| TOTAL EQUITY | 35,055,709 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 340,964,502 |
| INCOME & EXPENSE | |
| Loan Income | 12,731,354 |
| Investment Income | 3,143,612 |
| Other Income | 4,218,442 |
| Total Employee Compensation & Benefits | 6,817,008 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 6,567,927 |
| Non-operating Income & (Expense) | -77,689 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 697,900 |
| Cost of Funds | 1,924,490 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 4,405,144 |
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