Dec, 31, 2023 — NORTHERN COMMUNITIES CREDIT UNION is a federally insured state chartered credit union headquartered in DULUTH, MN with 2 branch locations and about $101.56 million in total assets. Opened 96 years ago in 1928, NORTHERN COMMUNITIES CREDIT UNION has about 6,453 members and employs 30 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | NORTHERN COMMUNITIES CREDIT UNION |
|---|---|
| Address: (Main Office) | 3311 W Arrowhead Rd DULUTH, MN 55811-4065 |
| Phone: | (218) 279-3200 |
| Fax: | (218) 279-3222 |
| Website: | https://nccyou.com |
| Branches: | 2 branch locations |
| Members: | 6,453 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 64655 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1928 |
| Last Audited: | Feb 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $101,562,045 |
| CEO/Manager: | Trina Hoff |
| Chairperson: | Karen Erickson |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,462,647 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 35,581,163 |
| Unsecured Loans | 8,004,151 |
| Other Loans | 39,760,649 |
| TOTAL LOANS | 83,345,962 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -645,255 |
| Land And Building | 2,094,609 |
| Other Fixed Assets | 309,452 |
| NCUSIF Deposit | 888,516 |
| All Other Assets | 152,753 |
| TOTAL ASSETS | 101,562,045 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 80,173 |
| Notes & Interest Payable | 930,915 |
| Accounts Payable & Other Liabilities | 1,202,859 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 16,760,269 |
| Regular shares | 56,871,323 |
| All Other Shares & Deposits | 14,617,584 |
| TOTAL SHARES & DEPOSITS | 88,249,176 |
| TOTAL LIABILITIES | 90,463,123 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 11,098,922 |
| TOTAL EQUITY | 11,098,922 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 101,562,045 |
| INCOME & EXPENSE | |
| Loan Income | 4,216,138 |
| Investment Income | 686,997 |
| Other Income | 429,036 |
| Total Employee Compensation & Benefits | 1,984,794 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 2,429,073 |
| Non-operating Income & (Expense) | 1,000 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 452,054 |
| Cost of Funds | 200,154 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,123,399 |
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