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National Credit Union Service Organization

LATVIAN CREDIT UNION

Dec, 31, 2023 — LATVIAN CREDIT UNION is a federally insured state chartered credit union headquartered in MINNEAPOLIS, MN with 1 branch location and about $5.50 million in total assets. Opened 59 years ago in 1965, LATVIAN CREDIT UNION has about 719 members offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:LATVIAN CREDIT UNION
Address:
(Main Office)
3152 17th Ave S
MINNEAPOLIS, MN 55407
Phone:(612) 722-5004
Fax:(612) 722-0174
Website:https://www.latviancu.com
Branches:1 branch locations
Members:719
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:63891
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1965
Last Audited:Mar 01, 2023
FHLB Member:No
Low Income Designation:No
Assets:$5,495,731
CEO/Manager:Santa Kalnite
Chairperson:Peter E Grotans

Call Report

  • First Time Homebuyer Program
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 523,479
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 943,827
 Unsecured Loans 108,113
 Other Loans 3,479,374
 TOTAL LOANS 4,531,313
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -21,718
 Land And Building 0
 Other Fixed Assets 0
 NCUSIF Deposit 45,433
 All Other Assets 0
  TOTAL ASSETS 5,495,731
LIABILITIES & CAPITAL:  
 Dividends Payable 10,098
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 24,280
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 531,502
 Regular shares 2,535,662
 All Other Shares & Deposits 1,822,201
  TOTAL SHARES & DEPOSITS 4,889,365
  TOTAL LIABILITIES 4,923,743
 Regular Reserve 0
 Other Reserves 81,504
 Undivided Earnings 490,484
  TOTAL EQUITY 571,988
  TOTAL LIABILITIES, SHARES, & EQUITY 5,495,731
INCOME & EXPENSE  
 Loan Income 261,774
 Investment Income 19,423
 Other Income 20,067
 Total Employee Compensation & Benefits 137,046
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 118,275
 Non-operating Income & (Expense) 1,508
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 13,924
 Cost of Funds 31,164
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 2,971
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