Dec, 31, 2023 — MEMBERS' ADVANTAGE CREDIT UNION is a federally insured state chartered credit union headquartered in WISCONSIN RAPIDS, WI with 2 branch locations and about $181.84 million in total assets. Opened 89 years ago in 1935, MEMBERS' ADVANTAGE CREDIT UNION has about 11,435 members and employs 31 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | MEMBERS' ADVANTAGE CREDIT UNION |
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Address: (Main Office) | 1610 Lincoln St WISCONSIN RAPIDS, WI 54494-5920 |
Phone: | (715) 421-1610 |
Fax: | (715) 421-1617 |
Website: | https://www.membersadvantagecu.com |
Branches: | 2 branch locations |
Members: | 11,435 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 66633 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1935 |
Last Audited: | Sep 01, 2023 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $181,844,551 |
CEO/Manager: | Thomas E Bulin |
Chairperson: | Thomas G Scharff |
ASSETS: | $ Amount |
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Cash & Equivalents | 3,644,251 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 116,825 |
Real Estate Loans | 53,219,998 |
Unsecured Loans | 2,590,254 |
Other Loans | 60,586,424 |
TOTAL LOANS | 118,354,262 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -236,617 |
Land And Building | 3,489,556 |
Other Fixed Assets | 334,565 |
NCUSIF Deposit | 1,364,131 |
All Other Assets | 30,704 |
TOTAL ASSETS | 181,844,551 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 294 |
Notes & Interest Payable | 9,000,000 |
Accounts Payable & Other Liabilities | 3,239,968 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 24,807,959 |
Regular shares | 55,996,042 |
All Other Shares & Deposits | 62,505,969 |
TOTAL SHARES & DEPOSITS | 143,309,971 |
TOTAL LIABILITIES | 155,550,233 |
Regular Reserve | 0 |
Other Reserves | 1,600,865 |
Undivided Earnings | 24,693,453 |
TOTAL EQUITY | 26,294,318 |
TOTAL LIABILITIES, SHARES, & EQUITY | 181,844,551 |
INCOME & EXPENSE | |
Loan Income | 6,098,230 |
Investment Income | 454,363 |
Other Income | 1,375,583 |
Total Employee Compensation & Benefits | 2,631,084 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 2,335,098 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 125,436 |
Cost of Funds | 2,151,115 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 1,345,271 |
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