Dec, 31, 2023 — TENNESSEE MEMBERS 1ST FEDERAL CREDIT UNION is a federal credit union headquartered in OAK RIDGE, TN with 2 branch locations and about $96.31 million in total assets. Opened 78 years ago in 1946, TENNESSEE MEMBERS 1ST FEDERAL CREDIT UNION has about 4,683 members and employs 20 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | TENNESSEE MEMBERS 1ST FEDERAL CREDIT UNION |
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Address: (Main Office) | 112 Administration Rd OAK RIDGE, TN 37830 |
Phone: | (865) 482-4343 |
Fax: | (865) 482-2617 |
Website: | https://www.mymembersfirst.org |
Branches: | 2 branch locations |
Members: | 4,683 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 5318 |
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Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
Corporate Credit Union: | No |
Year Opened: | 1946 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $96,311,746 |
CEO/Manager: | James R Mikels |
Chairperson: | Sonya Jackson |
ASSETS: | $ Amount |
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Cash & Equivalents | 2,279,180 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 20,734,991 |
Unsecured Loans | 2,071,595 |
Other Loans | 20,636,753 |
TOTAL LOANS | 44,777,946 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -215,399 |
Land And Building | 1,388,154 |
Other Fixed Assets | 456,542 |
NCUSIF Deposit | 908,080 |
All Other Assets | 0 |
TOTAL ASSETS | 96,311,746 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 1,333,522 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 18,604,620 |
Regular shares | 41,594,678 |
All Other Shares & Deposits | 28,383,070 |
TOTAL SHARES & DEPOSITS | 88,582,369 |
TOTAL LIABILITIES | 89,915,891 |
Regular Reserve | 0 |
Other Reserves | -2,700,410 |
Undivided Earnings | 9,096,265 |
TOTAL EQUITY | 6,395,855 |
TOTAL LIABILITIES, SHARES, & EQUITY | 96,311,746 |
INCOME & EXPENSE | |
Loan Income | 2,267,810 |
Investment Income | 1,094,858 |
Other Income | 133,104 |
Total Employee Compensation & Benefits | 1,357,424 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 2,199,288 |
Non-operating Income & (Expense) | 202,925 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | -29,731 |
Cost of Funds | 750,501 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | -53,566 |
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