Dec, 31, 2023 — HIBBING COOPERATIVE CREDIT UNION is a federally insured state chartered credit union headquartered in HIBBING, MN with 1 branch location and about $105.09 million in total assets. Opened 86 years ago in 1938, HIBBING COOPERATIVE CREDIT UNION has about 8,386 members and employs 10 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | HIBBING COOPERATIVE CREDIT UNION |
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Address: (Main Office) | 217 W 42nd St HIBBING, MN 55746 |
Phone: | (218) 263-8815 |
Fax: | (218) 263-5078 |
Website: | https://www.hccu.net |
Branches: | 1 branch locations |
Members: | 8,386 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 60164 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1938 |
Last Audited: | Jun 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $105,089,806 |
CEO/Manager: | Waylon T Vitters |
Chairperson: | Gary S Kangas |
ASSETS: | $ Amount |
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Cash & Equivalents | 4,691,713 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 6,496,537 |
Unsecured Loans | 1,037,704 |
Other Loans | 24,211,654 |
TOTAL LOANS | 31,745,895 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -178,311 |
Land And Building | 27,000 |
Other Fixed Assets | 26,063 |
NCUSIF Deposit | 937,798 |
All Other Assets | 0 |
TOTAL ASSETS | 105,089,806 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 121 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 312,976 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 19,725,088 |
Regular shares | 65,691,440 |
All Other Shares & Deposits | 5,284,192 |
TOTAL SHARES & DEPOSITS | 90,700,720 |
TOTAL LIABILITIES | 91,013,817 |
Regular Reserve | 0 |
Other Reserves | 709,563 |
Undivided Earnings | 13,366,426 |
TOTAL EQUITY | 14,075,989 |
TOTAL LIABILITIES, SHARES, & EQUITY | 105,089,806 |
INCOME & EXPENSE | |
Loan Income | 1,212,685 |
Investment Income | 2,162,030 |
Other Income | 195,079 |
Total Employee Compensation & Benefits | 628,291 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 1,148,626 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | -60,000 |
Cost of Funds | 75,800 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 2,105,435 |
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