Dec, 31, 2023 — FULDA AREA CREDIT UNION is a federally insured state chartered credit union headquartered in WORTHINGTON, MN with 6 branch locations and about $145.08 million in total assets. Opened 38 years ago in 1986, FULDA AREA CREDIT UNION has about 11,136 members and employs 42 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | FULDA AREA CREDIT UNION |
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Address: (Main Office) | 1127 Ryans Rd WORTHINGTON, MN 56187 |
Phone: | (507) 372-5959 |
Fax: | |
Website: | https://www.leadingedgecu.org |
Branches: | 6 branch locations |
Members: | 11,136 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 66867 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1986 |
Last Audited: | Sep 01, 2023 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $145,079,805 |
CEO/Manager: | Chad Merrihew |
Chairperson: | Randy Donahue |
ASSETS: | $ Amount |
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Cash & Equivalents | 8,492,794 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 226,330 |
Real Estate Loans | 63,770,884 |
Unsecured Loans | 5,267,957 |
Other Loans | 40,477,463 |
TOTAL LOANS | 109,516,304 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -692,939 |
Land And Building | 4,600,030 |
Other Fixed Assets | 425,151 |
NCUSIF Deposit | 1,258,037 |
All Other Assets | 0 |
TOTAL ASSETS | 145,079,805 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 368,081 |
Notes & Interest Payable | 6,000,000 |
Accounts Payable & Other Liabilities | 1,762,430 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 22,681,101 |
Regular shares | 24,614,585 |
All Other Shares & Deposits | 78,539,332 |
TOTAL SHARES & DEPOSITS | 125,835,018 |
TOTAL LIABILITIES | 133,965,529 |
Regular Reserve | 0 |
Other Reserves | -12,201 |
Undivided Earnings | 11,126,477 |
TOTAL EQUITY | 11,114,276 |
TOTAL LIABILITIES, SHARES, & EQUITY | 145,079,805 |
INCOME & EXPENSE | |
Loan Income | 5,802,824 |
Investment Income | 403,259 |
Other Income | 1,111,604 |
Total Employee Compensation & Benefits | 2,965,016 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 3,057,974 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 308,450 |
Cost of Funds | 2,229,969 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | -138,885 |
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