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 |
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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 |
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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 |
ASSETS: | $ Amount |
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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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