Dec, 31, 2023 — METROPOLITAN CHURCH FEDERAL CREDIT UNION is a federal credit union headquartered in SUFFOLK, VA with 1 branch location and about $12.81 million in total assets. Opened 75 years ago in 1949, METROPOLITAN CHURCH FEDERAL CREDIT UNION has about 1,880 members and employs 7 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | METROPOLITAN CHURCH FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 133 Tynes St SUFFOLK, VA 23434-4624 |
| Phone: | (757) 922-8101 |
| Fax: | (757) 922-8104 |
| Website: | n/a |
| Branches: | 1 branch locations |
| Members: | 1,880 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 5970 |
|---|---|
| Membership Type: | Multiple common bond - other |
| Corporate Credit Union: | No |
| Year Opened: | 1949 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $12,812,710 |
| CEO/Manager: | ronald o hart |
| Chairperson: | John H Kendale |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 559,365 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 2,347,929 |
| Unsecured Loans | 254,300 |
| Other Loans | 3,080,547 |
| TOTAL LOANS | 5,682,776 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -37,560 |
| Land And Building | 866,261 |
| Other Fixed Assets | 14,938 |
| NCUSIF Deposit | 95,150 |
| All Other Assets | 0 |
| TOTAL ASSETS | 12,812,710 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 58,916 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 1,302,684 |
| Regular shares | 6,580,691 |
| All Other Shares & Deposits | 1,696,546 |
| TOTAL SHARES & DEPOSITS | 9,579,921 |
| TOTAL LIABILITIES | 9,638,837 |
| Regular Reserve | 0 |
| Other Reserves | 2,172,734 |
| Undivided Earnings | 1,001,139 |
| TOTAL EQUITY | 3,173,873 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 12,812,710 |
| INCOME & EXPENSE | |
| Loan Income | 482,871 |
| Investment Income | 271,556 |
| Other Income | 45,797 |
| Total Employee Compensation & Benefits | 255,675 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 314,060 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 38,000 |
| Cost of Funds | 24,707 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 186,572 |
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