OTTER TAIL CREDIT UNION is no longer an active credit union according to the NCUA. If available, you can view their website at https://www.ottertailcreditunion.com for more information.
Dec, 31, 2023 — OTTER TAIL CREDIT UNION is a federally insured state chartered credit union headquartered in FERGUS FALLS, MN with 1 branch location and about $16.61 million in total assets. Opened 70 years ago in 1954, OTTER TAIL CREDIT UNION has about 2,266 members and employs 3 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | OTTER TAIL CREDIT UNION |
|---|---|
| Address: (Main Office) | 413 W STANTON AVE FERGUS FALLS, MN 56537-2505 |
| Phone: | (218) 736-5528 |
| Fax: | (218) 736-7753 |
| Website: | https://www.ottertailcreditunion.com |
| Branches: | 1 branch locations |
| Members: | 2,266 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 64343 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1954 |
| Last Audited: | Mar 01, 2019 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $16,613,408 |
| CEO/Manager: | David R West |
| Chairperson: | Jeffrey S McKeever |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 5,709,379 |
| TOTAL INVESTMENTS | 5,202,857 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 378,695 |
| Unsecured Loans | 225,769 |
| Other Loans | 4,696,894 |
| TOTAL LOANS | 5,301,358 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -26,699 |
| Land And Building | 223,460 |
| Other Fixed Assets | 34,828 |
| NCUSIF Deposit | 139,416 |
| All Other Assets | 28,809 |
| TOTAL ASSETS | 16,613,408 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 2,501 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 19,782 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 2,089,415 |
| Regular shares | 5,669,355 |
| All Other Shares & Deposits | 7,376,354 |
| TOTAL SHARES & DEPOSITS | 15,135,124 |
| TOTAL LIABILITIES | 15,157,407 |
| Regular Reserve | 389,326 |
| Other Reserves | 255,933 |
| Undivided Earnings | 810,742 |
| TOTAL EQUITY | 1,456,001 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 16,613,408 |
| INCOME & EXPENSE | |
| Loan Income | 99,445 |
| Investment Income | 34,715 |
| Other Income | 1,922 |
| Total Employee Compensation & Benefits | 79,653 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 74,318 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
| Cost of Funds | 11,166 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 136 |
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