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DULUTH FIRE DEPARTMENT CREDIT UNION

Dec, 31, 2023 — DULUTH FIRE DEPARTMENT CREDIT UNION is a federally insured state chartered credit union headquartered in DULUTH, MN with 1 branch location and about $6.78 million in total assets. Opened 87 years ago in 1937, DULUTH FIRE DEPARTMENT CREDIT UNION has about 352 members and employs 5 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:DULUTH FIRE DEPARTMENT CREDIT UNION
Address:
(Main Office)
602 W 2nd St
DULUTH, MN 55802
Phone:(218) 723-8357
Fax:(218) 722-2702
Website:n/a
Branches:1 branch locations
Members:352
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:60750
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1937
Last Audited:Jul 01, 2023
FHLB Member:No
Low Income Designation:No
Assets:$6,784,363
CEO/Manager:David Torgerson
Chairperson:Chad Cooke

Call Report

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 934,865
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 109,482
 Other Loans 2,621,474
 TOTAL LOANS 2,730,956
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -13,169
 Land And Building 0
 Other Fixed Assets 0
 NCUSIF Deposit 45,711
 All Other Assets 0
  TOTAL ASSETS 6,784,363
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 0
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 0
 Regular shares 2,489,365
 All Other Shares & Deposits 3,063,583
  TOTAL SHARES & DEPOSITS 5,552,948
  TOTAL LIABILITIES 5,552,948
 Regular Reserve 0
 Other Reserves 188,888
 Undivided Earnings 1,042,527
  TOTAL EQUITY 1,231,415
  TOTAL LIABILITIES, SHARES, & EQUITY 6,784,363
INCOME & EXPENSE  
 Loan Income 119,854
 Investment Income 111,103
 Other Income 79
 Total Employee Compensation & Benefits 63,358
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 47,365
 Non-operating Income & (Expense) 2,726
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 72,312
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 50,727
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