Dec, 31, 2023 — MEDINA COUNTY FEDERAL CREDIT UNION is a federal credit union headquartered in WADSWORTH, OH with 3 branch locations and about $121.07 million in total assets. Opened 64 years ago in 1960, MEDINA COUNTY FEDERAL CREDIT UNION has about 10,300 members and employs 24 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | MEDINA COUNTY FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 1353 Reimer Rd WADSWORTH, OH 44281 |
| Phone: | (330) 334-1023 |
| Fax: | (330) 334-5610 |
| Website: | https://www.medfed.com |
| Branches: | 3 branch locations |
| Members: | 10,300 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 13794 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1960 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $121,071,616 |
| CEO/Manager: | Pete Grimm |
| Chairperson: | Bud Herrle |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 12,234,032 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 25,003,479 |
| Unsecured Loans | 1,362,072 |
| Other Loans | 38,917,067 |
| TOTAL LOANS | 66,616,450 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -396,739 |
| Land And Building | 1,470,352 |
| Other Fixed Assets | 147,802 |
| NCUSIF Deposit | 1,096,244 |
| All Other Assets | 0 |
| TOTAL ASSETS | 121,071,616 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 1,768 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 686,650 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 24,352,951 |
| Regular shares | 58,121,084 |
| All Other Shares & Deposits | 29,302,911 |
| TOTAL SHARES & DEPOSITS | 111,776,948 |
| TOTAL LIABILITIES | 112,465,366 |
| Regular Reserve | 0 |
| Other Reserves | -4,994,424 |
| Undivided Earnings | 13,600,674 |
| TOTAL EQUITY | 8,606,250 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 121,071,616 |
| INCOME & EXPENSE | |
| Loan Income | 2,539,594 |
| Investment Income | 1,173,011 |
| Other Income | 449,803 |
| Total Employee Compensation & Benefits | 1,230,281 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,621,412 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 130,116 |
| Cost of Funds | 449,038 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,250,000 |
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