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ALERT
For the safety and security of our members and MCU team, please note that the hours of operation for the South Bronx Branch ATM lobby located at 560 Courtlandt Avenue Bronx, NY have recently been updated.

For the most current hours and to locate a nearby Branch/ATM, please visit our Branch/ATM locator tool.

 

 

STATEMENT OF FINANCIAL CONDITION

Assets

June 30, 2019
Cash and cash equivalents

$164991209

Investments:
- Available-for-sale

$32146066

- Held-to-maturity

$197509862

- Other

$497840814

Central Liquidity Fund (CLF) stock

$6923012

Loans receivable, net of allowance for loan losses

$1967696980

Accrued interest receivable

$7173122

Premises and equipment, net

$21323417

National Credit Union Share Insurance Fund deposit

$26356206

Assets acquired in liquidation

$1320806

Other assets

$75372687

ACH receivable

$69205044

Total Assets

$3067859225

Liabilities and Members’ Equity

June 30, 2019
Liabilities
Share and savings accounts

$2848906495

Interest payable

$61997

Accrued expenses and other liabilities

$102105679

- Total liabilities

$2951074171

Members' Equity
Regular reserve

$61580433

Undivided earnings

$55062801

Accumulated other comprehensive income

$141820

- Total members' equity

$116785054

Total Liabilities and Members' Equity

$3067859225

STATEMENT OF INCOME

For the 18-months ended June 30, 2019

Interest Income
Interest on loans receivable

$162700856

Interest on investments

$15508915

- Interest income

$178209771

Interest Expense
Dividends on share and savings accounts

$7459347

- Interest expense

$7459347

Net Interest Income

$170750424

Provision for Loan Losses

$39387563

Net Interest Income After Provision for Loan Losses

$131362861

Non-Interest Income
Service charges

$74608935

Card income

$44515497

Insurance commission income

$13366545

Cash and cash equivalents

$3166427

Other non-interest income

$3166427

Gain on investments, net

$100004

- Non-interest income

$135757408

Non-Interest Expense
Compensation and employee benefits

$218156902

Operations

$71519651

Occupancy

$26661935

Professional and outside services

$12622133

Costs related to fraud investigation

$9464844

Educational and promotion

$7704321

Write-off of deferred fees/costs, net

$6344202

Travel and conference

$5979629

Loan servicing

$5841118

Other gains and losses, net

$2416928

- Non-interest expense

$366711663

Net loss

$99591394

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