Dec, 31, 2023 — RICHFIELD-BLOOMINGTON CREDIT UNION is a federally insured state chartered credit union headquartered in BLOOMINGTON, MN with 4 branch locations and about $386.34 million in total assets. Opened 67 years ago in 1957, RICHFIELD-BLOOMINGTON CREDIT UNION has about 23,874 members and employs 74 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | RICHFIELD-BLOOMINGTON CREDIT UNION |
|---|---|
| Address: (Main Office) | 9550 Lyndale Ave S BLOOMINGTON, MN 55420 |
| Phone: | (612) 798-7100 |
| Fax: | |
| Website: | https://www.mymncu.org |
| Branches: | 4 branch locations |
| Members: | 23,874 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 60125 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1957 |
| Last Audited: | Jun 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $386,343,958 |
| CEO/Manager: | Gregory H Worthen |
| Chairperson: | James L Habeck |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 9,828,471 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 282,548,052 |
| Unsecured Loans | 13,735,831 |
| Other Loans | 37,439,338 |
| TOTAL LOANS | 333,723,221 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,742,022 |
| Land And Building | 14,558,181 |
| Other Fixed Assets | 1,582,986 |
| NCUSIF Deposit | 3,202,642 |
| All Other Assets | 208,622 |
| TOTAL ASSETS | 386,343,958 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 74,479 |
| Notes & Interest Payable | 19,000,000 |
| Accounts Payable & Other Liabilities | 3,875,219 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 114,886,083 |
| Regular shares | 121,227,928 |
| All Other Shares & Deposits | 92,947,939 |
| TOTAL SHARES & DEPOSITS | 329,061,950 |
| TOTAL LIABILITIES | 352,011,648 |
| Regular Reserve | 0 |
| Other Reserves | 3,638,946 |
| Undivided Earnings | 30,693,364 |
| TOTAL EQUITY | 34,332,310 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 386,343,958 |
| INCOME & EXPENSE | |
| Loan Income | 14,445,138 |
| Investment Income | 449,642 |
| Other Income | 949,230 |
| Total Employee Compensation & Benefits | 5,889,071 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 8,593,112 |
| Non-operating Income & (Expense) | 4,536 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 315,325 |
| Cost of Funds | 1,779,887 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 2,080,785 |
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