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FAIRMONT SCHOOL EMPLOYEES FEDERAL CREDIT UNION

Dec, 31, 2023 — FAIRMONT SCHOOL EMPLOYEES FEDERAL CREDIT UNION is a federal credit union headquartered in FAIRMONT, MN with 1 branch location and about $3.91 million in total assets. Opened 67 years ago in 1957, FAIRMONT SCHOOL EMPLOYEES FEDERAL CREDIT UNION has about 542 members offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:FAIRMONT SCHOOL EMPLOYEES FEDERAL CREDIT UNION
Address:
(Main Office)
110 Eltinge Pl
FAIRMONT, MN 56031-3423
Phone:(507) 235-5060
Fax:(507) 235-5063
Website:n/a
Branches:1 branch locations
Members:542
Credit Union Type:Federal Credit Union
Charter Number:24612
Membership Type:Educational
Corporate Credit Union:No
Year Opened:1957
Last Audited:Dec 01, 2022
FHLB Member:No
Low Income Designation:No
Assets:$3,909,154
CEO/Manager:Jerry Brooks
Chairperson:Holly Vogltance

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 76,488
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 104,869
 Other Loans 3,707,555
 TOTAL LOANS 3,812,424
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -23,498
 Land And Building 0
 Other Fixed Assets 0
 NCUSIF Deposit 38,740
 All Other Assets 0
  TOTAL ASSETS 3,909,154
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 175,000
 Accounts Payable & Other Liabilities 1,625
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 0
 Regular shares 3,356,572
 All Other Shares & Deposits 0
  TOTAL SHARES & DEPOSITS 3,356,572
  TOTAL LIABILITIES 3,533,197
 Regular Reserve 0
 Other Reserves 42,022
 Undivided Earnings 333,935
  TOTAL EQUITY 375,957
  TOTAL LIABILITIES, SHARES, & EQUITY 3,909,154
INCOME & EXPENSE  
 Loan Income 198,515
 Investment Income 6,166
 Other Income 0
 Total Employee Compensation & Benefits 36,857
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 22,183
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 25,483
 Cost of Funds 85,166
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 36,025
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