State Chartered Credit Unions In Mississippi

Organization Overview

State Chartered Credit Unions In Mississippi, operating under the name Mutual Credit Union, is located in Vicksburg, MS. The organization was established in 1970. According to its NTEE Classification (W61) the organization is classified as: Credit Unions, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2022, Mutual Credit Union employed 96 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mutual Credit Union is a 501(c)(14) and as such, is described as a "State Chartered Credit Union, Mutual Reserve Fund" by the IRS.

For the year ending 12/2022, Mutual Credit Union generated $17.5m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 7.8% each year. All expenses for the organization totaled $14.4m during the year ending 12/2022. While expenses have increased by 5.4% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

BE THE MOST TRUSTED PROVIDER OF EXCEPTIONAL FINANCIAL PRODUCTS AND SERVICES FOR OUR MEMBERS AND THE COMMUNITIES WE SERVE.

Describe the Organization's Program Activity:

Part 3 - Line 4a

FINANCIAL SERVICE PROGRAMS THAT OFFER COMPETITIVE DIVIDEND RATES INTEREST RATES ON LOANS AS WELL AS OTHER PRODUCTS AND SERVICES FOR THE BENEFIT OF OUR MEMBERS.


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Board, Officers & Key Employees

Name (title)Compensation
Michael Mathews
CEO
$259,101
Jennifer Lynne Mcmillin
CFO
$126,172
Christy Pecanty
VP It
$100,706
Jerry Dean
Chairman
$0
Leonard Murrell
Vice Chairman
$0
Tonya Acuff
Secretary
$1,224

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$0
Total Program Service Revenue$7,443,215
Investment income $2,330,071
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales -$205,344
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $17,518,110

Peer Organizations

Organization NameAssets
Family Savings Credit Union
Rainbow City, AL
$50,899,243
Five Star Credit Union
Dothan, AL
$44,908,248
First South Financial Credit Union
Bartlett, TN
$40,066,306
Southeast Financial Credit Union
Franklin, TN
$29,260,817
Family Security Credit Union
Decatur, AL
$43,290,857
Navigator Credit Union
Pascagoula, MS
$31,083,422
Emblem Credit Union
Gadsden, AL
$28,308,124
Jefferson Financial Federal Credit Union
Metairie, LA
$24,511,023
Memphis City Employees Credit Union
Memphis, TN
$23,689,199
Alabama State Employees Credit Union
Montgomery, AL
$23,220,315
The Tennessee Credit Union
Nashville, TN
$19,477,558
Cornerstone Financial Credit Union
Nashville, TN
$23,967,218
U S Community Credit Union
Nashville, TN
$19,517,866
Winsouth Credit Union
Gadsden, AL
$20,131,767
State Chartered Credit Unions In Mississippi
Vicksburg, MS
$17,518,110
Old Hickory Credit Union
Old Hickory, TN
$14,832,560
State Chartered Credit Unions In Louisiana
Lake Charles, LA
$14,658,995
Mutual Savings
Birmingham, AL
$12,277,489
Fort Mcclellan Credit Union
Anniston, AL
$10,075,031
Bowater Employees Credit Union
Calhoun, TN
$12,161,157
New Horizons Credit Union
Mobile, AL
$11,191,194
Alabama Central Credit Union
Birmingham, AL
$10,136,034
Heritage South Credit Union
Sylacauga, AL
$9,575,524
Louisiana Corp Credit Union
Metairie, LA
$9,492,747
Scenic Community Credit Union
Hixson, TN
$8,288,565

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