Dec, 31, 2023 — HEARTLAND CREDIT UNION is a federally insured state chartered credit union headquartered in INVER GROVE HEIGHTS, MN with 4 branch locations and about $189.89 million in total assets. Opened 85 years ago in 1939, HEARTLAND CREDIT UNION has about 10,989 members and employs 33 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | HEARTLAND CREDIT UNION |
|---|---|
| Address: (Main Office) | 5500 S Robert Trl INVER GROVE HEIGHTS, MN 55077 |
| Phone: | (651) 451-5160 |
| Fax: | (651) 451-4340 |
| Website: | https://www.heartlandcu.com |
| Branches: | 4 branch locations |
| Members: | 10,989 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 64168 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1939 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $189,890,064 |
| CEO/Manager: | Kathleen M Harrington |
| Chairperson: | Rex Carlson |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 4,275,313 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 60,221,198 |
| Unsecured Loans | 11,731,698 |
| Other Loans | 46,393,188 |
| TOTAL LOANS | 118,369,451 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -913,342 |
| Land And Building | 5,479,400 |
| Other Fixed Assets | 567,928 |
| NCUSIF Deposit | 1,466,426 |
| All Other Assets | 0 |
| TOTAL ASSETS | 189,890,064 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 571 |
| Notes & Interest Payable | 16,607,834 |
| Accounts Payable & Other Liabilities | 1,478,372 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 37,620,593 |
| Regular shares | 65,468,254 |
| All Other Shares & Deposits | 56,785,022 |
| TOTAL SHARES & DEPOSITS | 159,873,869 |
| TOTAL LIABILITIES | 177,960,646 |
| Regular Reserve | 0 |
| Other Reserves | -4,448,887 |
| Undivided Earnings | 16,378,305 |
| TOTAL EQUITY | 11,929,418 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 189,890,064 |
| INCOME & EXPENSE | |
| Loan Income | 5,146,666 |
| Investment Income | 1,320,128 |
| Other Income | 692,771 |
| Total Employee Compensation & Benefits | 2,621,443 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 3,018,604 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 145,837 |
| Cost of Funds | 1,923,930 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 605,519 |
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