Dec, 31, 2023 — CENT CREDIT UNION is a federally insured state chartered credit union headquartered in MASON CITY, IA with 3 branch locations and about $151.66 million in total assets. Opened 59 years ago in 1965, CENT CREDIT UNION has about 11,245 members and employs 29 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | CENT CREDIT UNION |
|---|---|
| Address: (Main Office) | 25 W State ST MASON CITY, IA 50401-3219 |
| Phone: | (641) 424-2368 |
| Fax: | (641) 201-8000 |
| Website: | https://www.centcu.org |
| Branches: | 3 branch locations |
| Members: | 11,245 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 65238 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1965 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $151,655,245 |
| CEO/Manager: | Matthew R Chizek |
| Chairperson: | William Basler |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 18,532,461 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 67,692,302 |
| Unsecured Loans | 1,266,610 |
| Other Loans | 48,931,357 |
| TOTAL LOANS | 117,890,269 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -275,316 |
| Land And Building | 2,082,006 |
| Other Fixed Assets | 731,906 |
| NCUSIF Deposit | 1,330,930 |
| All Other Assets | 0 |
| TOTAL ASSETS | 151,655,245 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 227,615 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 34,706,086 |
| Regular shares | 37,403,510 |
| All Other Shares & Deposits | 61,294,639 |
| TOTAL SHARES & DEPOSITS | 133,404,234 |
| TOTAL LIABILITIES | 133,631,849 |
| Regular Reserve | 0 |
| Other Reserves | 8,309,619 |
| Undivided Earnings | 9,713,777 |
| TOTAL EQUITY | 18,023,396 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 151,655,245 |
| INCOME & EXPENSE | |
| Loan Income | 5,351,128 |
| Investment Income | 1,161,356 |
| Other Income | 735,370 |
| Total Employee Compensation & Benefits | 2,665,355 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 2,185,732 |
| Non-operating Income & (Expense) | 56,144 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 170,085 |
| Cost of Funds | 1,421,027 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,247,032 |
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