Dec, 31, 2023 — TRUSTAR FEDERAL CREDIT UNION is a federal credit union headquartered in INTERNATIONAL FALLS, MN with 6 branch locations and about $330.46 million in total assets. Opened 64 years ago in 1960, TRUSTAR FEDERAL CREDIT UNION has about 18,289 members and employs 89 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | TRUSTAR FEDERAL CREDIT UNION |
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Address: (Main Office) | 601 4th St INTERNATIONAL FALLS, MN 56649-2436 |
Phone: | (218) 283-2000 |
Fax: | (218) 283-8034 |
Website: | https://www.trustarfcu.com |
Branches: | 6 branch locations |
Members: | 18,289 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 24626 |
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Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
Corporate Credit Union: | No |
Year Opened: | 1960 |
Last Audited: | Mar 01, 2023 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $330,460,812 |
CEO/Manager: | Kipp L Raboin |
Chairperson: | Michael J Lemieux |
ASSETS: | $ Amount |
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Cash & Equivalents | 28,835,073 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 88,270 |
Real Estate Loans | 143,781,563 |
Unsecured Loans | 7,225,423 |
Other Loans | 88,286,940 |
TOTAL LOANS | 239,627,062 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -3,388,758 |
Land And Building | 9,640,481 |
Other Fixed Assets | 1,559,168 |
NCUSIF Deposit | 2,499,262 |
All Other Assets | 0 |
TOTAL ASSETS | 330,460,812 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 755,935 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 4,532,380 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 78,758,630 |
Regular shares | 121,219,496 |
All Other Shares & Deposits | 76,922,162 |
TOTAL SHARES & DEPOSITS | 276,900,287 |
TOTAL LIABILITIES | 282,188,602 |
Regular Reserve | 0 |
Other Reserves | 0 |
Undivided Earnings | 48,272,210 |
TOTAL EQUITY | 48,272,210 |
TOTAL LIABILITIES, SHARES, & EQUITY | 330,460,812 |
INCOME & EXPENSE | |
Loan Income | 12,656,440 |
Investment Income | 2,530,016 |
Other Income | 1,455,749 |
Total Employee Compensation & Benefits | 7,834,028 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 5,579,016 |
Non-operating Income & (Expense) | 1,900 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 676,044 |
Cost of Funds | 3,286,392 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 2,511,745 |
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