N.W. IOWA CREDIT UNION is no longer an active credit union according to the NCUA. If available, you can view their website at https://www.nwicu.com for more information.
Dec, 31, 2023 — N.W. IOWA CREDIT UNION is a federally insured state chartered credit union headquartered in Le Mars, IA with 1 branch location and about $87.64 million in total assets. Opened 58 years ago in 1966, N.W. IOWA CREDIT UNION has about 5,193 members and employs 11 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | N.W. IOWA CREDIT UNION |
|---|---|
| Address: (Main Office) | 1411 Industrial Rd SW, PO Box 1030 Le Mars, IA 51031 |
| Phone: | (712) 546-7676 |
| Fax: | (712) 546-7628 |
| Website: | https://www.nwicu.com |
| Branches: | 1 branch locations |
| Members: | 5,193 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 63399 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1966 |
| Last Audited: | Sep 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $87,635,701 |
| CEO/Manager: | Brenda K Gengler |
| Chairperson: | Richard Sudtelgte |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 18,359,299 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 17,978,858 |
| Unsecured Loans | 1,428,768 |
| Other Loans | 30,732,123 |
| TOTAL LOANS | 50,139,749 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -67,432 |
| Land And Building | 236,217 |
| Other Fixed Assets | 79,166 |
| NCUSIF Deposit | 657,999 |
| All Other Assets | 0 |
| TOTAL ASSETS | 87,635,701 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 16,014 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 39,169 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 11,778,552 |
| Regular shares | 38,000,060 |
| All Other Shares & Deposits | 29,127,111 |
| TOTAL SHARES & DEPOSITS | 78,905,723 |
| TOTAL LIABILITIES | 78,960,906 |
| Regular Reserve | 0 |
| Other Reserves | 2,182,319 |
| Undivided Earnings | 6,492,476 |
| TOTAL EQUITY | 8,674,795 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 87,635,701 |
| INCOME & EXPENSE | |
| Loan Income | 1,344,059 |
| Investment Income | 160,772 |
| Other Income | 266,706 |
| Total Employee Compensation & Benefits | 422,725 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 814,388 |
| Non-operating Income & (Expense) | 93 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 20,000 |
| Cost of Funds | 265,803 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 430,450 |
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