Metro Medical Credit Union

Organization Overview

Metro Medical Credit Union is located in Dallas, TX. The organization was established in 1976. 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 12/2021, Metro Medical Credit Union employed 15 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Metro Medical 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 12/2021, Metro Medical Credit Union generated $2.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.4% each year. All expenses for the organization totaled $2.1m during the year ending 12/2021. While expenses have increased by 0.6% per year over the past 7 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

2021

Describe the Organization's Mission:

Part 3 - Line 1

METRO MEDICAL CREDIT UNION IS A FINANCIAL COOPERATIVE FORMED TO PROVIDE FINANCIAL SERVICES FOR INDIVIDUALS OF MODEST MEANS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

SHARE ACCOUNTS: METRO MEDICAL CREDIT UNION'S SHARE ACCOUNTS OFFER ADVANTAGES TO MEMBERS OF ALL AGES. THE CREDIT UNION HAD 6,770 MEMBERS AND 10,700 MEMBER SHARE ACCOUNTS AS OF DECEMBER 31, 2021. MEMBER SHARE ACCOUNTS PAY DIVIDENDS QUARTERLY AND OFFER ACCESS THROUGH BRANCH NETWORK, HOME BANKING VIA THE INTERNET OR TELEPHONE, AND ATMS. CHRISTMAS CLUB SAVINGS ACCOUNTS ENCOURAGE THE DEVELOPMENT OF CONSISTENT SAVINGS HABITS FOR END OF YEAR EXPENSES.


CHECKING ACCOUNTS: METRO MEDICAL CREDIT UNION PROVIDES CHECKING ACCOUNTS WITH NO MONTHLY CHARGE TO CONSUMERS. MMCU HAS 3,297 CHECKING ACCOUNTS. DIVIDENDS ARE PAID MONTHLY. ADDITIONALLY, THE CREDIT UNION OFFERS FREE DEBIT CARDS AND FREE HOME BAKING ON THESE ACCOUNTS. INTERNET BILL PAY IS AVAILABLE FOR A NOMINAL MONTHLY CHARGE. APPROXIMATELY FORTY-SEVEN PERCENT OF THE CREDIT UNION'S MEMBERS HAVE A CHECKING ACCOUNT.


CONSUMER LOANS: METRO MEDICAL CREDIT UNION PROVIDES SIGNATURE LOANS, PROPERTY IMPROVEMENT LOANS AND FIXED HOME EQUITY LOANS. ALSO, SHARE SECURED LOANS ARE AVAILABLE AT A REDUCED RATE.


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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$1,884,069
Investment income $1,032,802
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $2,916,871

Peer Organizations

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