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RACINE MUNICIPAL EMPLOYEES CREDIT UNION

Dec, 31, 2023 — RACINE MUNICIPAL EMPLOYEES CREDIT UNION is a federally insured state chartered credit union headquartered in RACINE, WI with 1 branch location and about $21.29 million in total assets. Opened 71 years ago in 1953, RACINE MUNICIPAL EMPLOYEES CREDIT UNION has about 1,857 members and employs 6 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 275981420
Name:RACINE MUNICIPAL EMPLOYEES CREDIT UNION
Address:
(Main Office)
1907 Lathrop Ave
RACINE, WI 53405-3706
Phone:(262) 637-7274
Fax:(262) 637-0491
Website:https://rmecu.org
Branches:1 branch locations
Members:1,857
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:66622
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1953
Last Audited:Sep 01, 2023
FHLB Member:No
Low Income Designation:No
Assets:$21,290,280
CEO/Manager:Nicole M Christensen-Zabler
Chairperson:Scott O Sharp

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 955,825
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 5,966,836
 Unsecured Loans 667,787
 Other Loans 9,697,568
 TOTAL LOANS 16,332,191
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -85,221
 Land And Building 66,786
 Other Fixed Assets 12,104
 NCUSIF Deposit 185,181
 All Other Assets 0
  TOTAL ASSETS 21,290,280
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 197,272
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 3,463,986
 Regular shares 11,110,448
 All Other Shares & Deposits 3,842,150
  TOTAL SHARES & DEPOSITS 18,416,584
  TOTAL LIABILITIES 18,613,856
 Regular Reserve 0
 Other Reserves 0
 Undivided Earnings 2,676,424
  TOTAL EQUITY 2,676,424
  TOTAL LIABILITIES, SHARES, & EQUITY 21,290,280
INCOME & EXPENSE  
 Loan Income 601,234
 Investment Income 142,822
 Other Income 73,831
 Total Employee Compensation & Benefits 244,643
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 383,284
 Non-operating Income & (Expense) 11,475
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense -39,423
 Cost of Funds 78,117
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 289,548
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