Dec, 31, 2023 — TRUE NORTH FEDERAL CREDIT UNION is a federal credit union headquartered in JUNEAU, AK with 3 branch locations and about $220.62 million in total assets. Opened 76 years ago in 1948, TRUE NORTH FEDERAL CREDIT UNION has about 12,893 members and employs 63 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | TRUE NORTH FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 2777 Postal Way JUNEAU, AK 99801 |
| Phone: | (907) 523-4778 |
| Fax: | (907) 586-8078 |
| Website: | https://www.truenorthfcu.org |
| Branches: | 3 branch locations |
| Members: | 12,893 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 5892 |
|---|---|
| Membership Type: | Multiple common bond - Primarily federal, state, local government |
| Corporate Credit Union: | No |
| Year Opened: | 1948 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $220,623,875 |
| CEO/Manager: | Lauren MacVay |
| Chairperson: | Christine Moleski |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 15,067,372 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 386,650 |
| Real Estate Loans | 51,669,238 |
| Unsecured Loans | 9,390,307 |
| Other Loans | 102,839,748 |
| TOTAL LOANS | 163,899,293 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,791,613 |
| Land And Building | 2,643,463 |
| Other Fixed Assets | 1,211,130 |
| NCUSIF Deposit | 1,740,278 |
| All Other Assets | 94,018 |
| TOTAL ASSETS | 220,623,875 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 637,506 |
| Notes & Interest Payable | 10,000,000 |
| Accounts Payable & Other Liabilities | 4,300,099 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 49,583,040 |
| Regular shares | 58,398,682 |
| All Other Shares & Deposits | 78,357,038 |
| TOTAL SHARES & DEPOSITS | 186,338,757 |
| TOTAL LIABILITIES | 201,276,362 |
| Regular Reserve | 0 |
| Other Reserves | -1,048,056 |
| Undivided Earnings | 20,395,569 |
| TOTAL EQUITY | 19,347,513 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 220,623,875 |
| INCOME & EXPENSE | |
| Loan Income | 8,259,873 |
| Investment Income | 2,199,244 |
| Other Income | 1,779,817 |
| Total Employee Compensation & Benefits | 5,606,149 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 3,531,278 |
| Non-operating Income & (Expense) | 32,398 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 1,051,000 |
| Cost of Funds | 1,388,708 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,421,393 |
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