Dec, 31, 2023 — STAR CHOICE CREDIT UNION is a federally insured state chartered credit union headquartered in BLOOMINGTON, MN with 2 branch locations and about $88.59 million in total assets. Opened 93 years ago in 1931, STAR CHOICE CREDIT UNION has about 6,111 members and employs 16 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | STAR CHOICE CREDIT UNION |
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Address: (Main Office) | 10750 France Ave S BLOOMINGTON, MN 55431 |
Phone: | (952) 698-7228 |
Fax: | |
Website: | https://www.starchoicecu.org |
Branches: | 2 branch locations |
Members: | 6,111 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 64706 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1931 |
Last Audited: | Jun 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $88,586,247 |
CEO/Manager: | Scott R Olson |
Chairperson: | Lindsey Olsen |
ASSETS: | $ Amount |
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Cash & Equivalents | 1,041,150 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 39,946,422 |
Unsecured Loans | 4,161,538 |
Other Loans | 21,500,703 |
TOTAL LOANS | 65,608,663 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -257,342 |
Land And Building | 1,861,366 |
Other Fixed Assets | 211,474 |
NCUSIF Deposit | 796,314 |
All Other Assets | 17,200 |
TOTAL ASSETS | 88,586,247 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 46,220 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 384,201 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 40,302,443 |
Regular shares | 24,895,763 |
All Other Shares & Deposits | 16,436,120 |
TOTAL SHARES & DEPOSITS | 81,634,326 |
TOTAL LIABILITIES | 82,064,747 |
Regular Reserve | 0 |
Other Reserves | 1,443,696 |
Undivided Earnings | 5,077,804 |
TOTAL EQUITY | 6,521,500 |
TOTAL LIABILITIES, SHARES, & EQUITY | 88,586,247 |
INCOME & EXPENSE | |
Loan Income | 2,764,802 |
Investment Income | 224,172 |
Other Income | 158,927 |
Total Employee Compensation & Benefits | 1,137,074 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 1,830,008 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 247,451 |
Cost of Funds | 757,455 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | -337,771 |
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