Dec, 31, 2023 — FREEDOM NORTHWEST CREDIT UNION is a federally insured state chartered credit union headquartered in KAMIAH, ID with 2 branch locations and about $613.96 million in total assets. Opened 61 years ago in 1963, FREEDOM NORTHWEST CREDIT UNION has about 12,918 members and employs 48 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | FREEDOM NORTHWEST CREDIT UNION |
|---|---|
| Address: (Main Office) | 303 Main Street KAMIAH, ID 83536 |
| Phone: | (208) 935-0277 |
| Fax: | (208) 935-0067 |
| Website: | https://fnwcu.org |
| Branches: | 2 branch locations |
| Members: | 12,918 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 65722 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1963 |
| Last Audited: | Dec 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $613,960,025 |
| CEO/Manager: | Gregory S Garrett |
| Chairperson: | Kevin Steere |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 43,399,388 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 375,368,865 |
| Unsecured Loans | 2,123,092 |
| Other Loans | 71,845,533 |
| TOTAL LOANS | 449,337,492 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -929,496 |
| Land And Building | 6,986,449 |
| Other Fixed Assets | 1,707,938 |
| NCUSIF Deposit | 4,060,879 |
| All Other Assets | 62,441 |
| TOTAL ASSETS | 613,960,025 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 1,227,041 |
| Notes & Interest Payable | 72,400,000 |
| Accounts Payable & Other Liabilities | 2,518,525 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 35,876,417 |
| Regular shares | 33,721,985 |
| All Other Shares & Deposits | 411,850,659 |
| TOTAL SHARES & DEPOSITS | 481,449,061 |
| TOTAL LIABILITIES | 557,677,681 |
| Regular Reserve | 0 |
| Other Reserves | -1,032,048 |
| Undivided Earnings | 57,314,392 |
| TOTAL EQUITY | 56,282,344 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 613,960,025 |
| INCOME & EXPENSE | |
| Loan Income | 27,688,831 |
| Investment Income | 4,145,574 |
| Other Income | 2,816,140 |
| Total Employee Compensation & Benefits | 4,757,355 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 3,640,378 |
| Non-operating Income & (Expense) | 115,480 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 112,000 |
| Cost of Funds | 15,458,420 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 11,810,649 |
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