Dec, 31, 2023 — MOWER COUNTY EMPLOYEES CREDIT UNION is a federally insured state chartered credit union headquartered in AUSTIN, MN with 1 branch location and about $11.89 million in total assets. Opened 63 years ago in 1961, MOWER COUNTY EMPLOYEES CREDIT UNION has about 769 members and employs 5 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | MOWER COUNTY EMPLOYEES CREDIT UNION |
|---|---|
| Address: (Main Office) | 900 18th Ave NW AUSTIN, MN 55912 |
| Phone: | (507) 437-6360 |
| Fax: | (507) 437-2964 |
| Website: | https://www.mowercountyecu.org |
| Branches: | 1 branch locations |
| Members: | 769 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 64518 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1961 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $11,885,823 |
| CEO/Manager: | Stephanie M Riles |
| Chairperson: | DUANE FELT |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 281,480 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 4,050,015 |
| Unsecured Loans | 781,214 |
| Other Loans | 5,112,975 |
| TOTAL LOANS | 9,944,205 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -107,913 |
| Land And Building | 209,650 |
| Other Fixed Assets | 1,720 |
| NCUSIF Deposit | 106,721 |
| All Other Assets | 0 |
| TOTAL ASSETS | 11,885,823 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 200,000 |
| Accounts Payable & Other Liabilities | 42,349 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 748,436 |
| Regular shares | 4,161,378 |
| All Other Shares & Deposits | 5,055,675 |
| TOTAL SHARES & DEPOSITS | 9,965,492 |
| TOTAL LIABILITIES | 10,207,841 |
| Regular Reserve | 0 |
| Other Reserves | 174,859 |
| Undivided Earnings | 1,503,123 |
| TOTAL EQUITY | 1,677,982 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 11,885,823 |
| INCOME & EXPENSE | |
| Loan Income | 545,516 |
| Investment Income | 42,719 |
| Other Income | 24,473 |
| Total Employee Compensation & Benefits | 158,000 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 215,616 |
| Non-operating Income & (Expense) | 4,601 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 5,483 |
| Cost of Funds | 170,731 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 67,479 |
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