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MERCER COUNTY IMPROVEMENT AUTHORITY FEDERAL CREDIT UNION

Dec, 31, 2023 — MERCER COUNTY IMPROVEMENT AUTHORITY FEDERAL CREDIT UNION is a federal credit union headquartered in HAMILTON, NJ with 1 branch location and about $382,798 in total assets. Opened 88 years ago in 1936, MERCER COUNTY IMPROVEMENT AUTHORITY FEDERAL CREDIT UNION has about 210 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:MERCER COUNTY IMPROVEMENT AUTHORITY FEDERAL CREDIT UNION
Address:
(Main Office)
600 SLOAN AVE
HAMILTON, NJ 08619
Phone:(609) 689-1765
Fax:(609) 689-9704
Website:n/a
Branches:1 branch locations
Members:210
Credit Union Type:Federal Credit Union
Charter Number:1546
Membership Type:Service - Transportation
Corporate Credit Union:No
Year Opened:1936
Last Audited:Dec 01, 2022
FHLB Member:No
Low Income Designation:No
Assets:$382,798
CEO/Manager:YAVONE THURMON
Chairperson:BARRY L HAMILTON

Call Report

  • Payday Alternative Loans (PAL Loans)

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 116,999
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 217,700
 Other Loans 0
 TOTAL LOANS 217,700
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -10,371
 Land And Building 0
 Other Fixed Assets 0
 NCUSIF Deposit 4,089
 All Other Assets 0
  TOTAL ASSETS 382,798
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 1,575
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 0
 Regular shares 332,911
 All Other Shares & Deposits 0
  TOTAL SHARES & DEPOSITS 332,911
  TOTAL LIABILITIES 334,486
 Regular Reserve 0
 Other Reserves 22,738
 Undivided Earnings 25,574
  TOTAL EQUITY 48,312
  TOTAL LIABILITIES, SHARES, & EQUITY 382,798
INCOME & EXPENSE  
 Loan Income 28,084
 Investment Income 4,152
 Other Income 2,424
 Total Employee Compensation & Benefits 19,643
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 25,028
 Non-operating Income & (Expense) 1,220
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 5,619
 Cost of Funds 555
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -14,965
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