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NORTHERN REDWOOD FEDERAL CREDIT UNION

Dec, 31, 2023 — NORTHERN REDWOOD FEDERAL CREDIT UNION is a federal credit union headquartered in ARCATA, CA with 2 branch locations and about $22.79 million in total assets. Opened 69 years ago in 1955, NORTHERN REDWOOD FEDERAL CREDIT UNION has about 3,233 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.


Name:NORTHERN REDWOOD FEDERAL CREDIT UNION
Address:
(Main Office)
1270 Giuntoli Ln
ARCATA, CA 95521-4415
Phone:(707) 822-5902
Fax:(707) 822-8818
Website:https://www.northernredwoodfcu.org
Branches:2 branch locations
Members:3,233
Credit Union Type:Federal Credit Union
Charter Number:10362
Membership Type:Community credit unions, urban or rural, other than those designated 'low income'
Corporate Credit Union:No
Year Opened:1955
Last Audited:Aug 01, 2023
FHLB Member:No
Low Income Designation:No
Assets:$22,790,271
CEO/Manager:Jenna L Cardoza
Chairperson:Sandra L Hanks

Call Report

  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 1,805,064
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 381,274
 Unsecured Loans 1,222,104
 Other Loans 16,853,477
 TOTAL LOANS 18,456,855
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -120,826
 Land And Building 1,006,061
 Other Fixed Assets 145,133
 NCUSIF Deposit 215,450
 All Other Assets 36,361
  TOTAL ASSETS 22,790,271
LIABILITIES & CAPITAL:  
 Dividends Payable 372
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 354,171
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 4,121,548
 Regular shares 10,692,577
 All Other Shares & Deposits 5,673,304
  TOTAL SHARES & DEPOSITS 20,487,429
  TOTAL LIABILITIES 20,841,972
 Regular Reserve 0
 Other Reserves 0
 Undivided Earnings 1,948,299
  TOTAL EQUITY 1,948,299
  TOTAL LIABILITIES, SHARES, & EQUITY 22,790,271
INCOME & EXPENSE  
 Loan Income 1,037,116
 Investment Income 102,901
 Other Income 259,914
 Total Employee Compensation & Benefits 411,299
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 750,328
 Non-operating Income & (Expense) 98,993
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 37,500
 Cost of Funds 192,284
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 118,679
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