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TORO EMPLOYEES FEDERAL CREDIT UNION

Dec, 31, 2023 — TORO EMPLOYEES FEDERAL CREDIT UNION is a federal credit union headquartered in BLOOMINGTON, MN with 1 branch location and about $36.52 million in total assets. Opened 50 years ago in 1974, TORO EMPLOYEES FEDERAL CREDIT UNION has about 3,296 members and employs 6 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 291075103
Name:TORO EMPLOYEES FEDERAL CREDIT UNION
Address:
(Main Office)
8111 Lyndale Ave S
BLOOMINGTON, MN 55420
Phone:(952) 208-6441
Fax:(952) 948-4849
Website:https://www.torofcu.org
Branches:1 branch locations
Members:3,296
Credit Union Type:Federal Credit Union
Charter Number:21644
Membership Type:Manufacturing - Machinery
Corporate Credit Union:No
Year Opened:1974
Last Audited:Mar 01, 2023
FHLB Member:No
Low Income Designation:No
Assets:$36,520,720
CEO/Manager:Grant Johnson
Chairperson:Paul R Danielson

Call Report

  • Credit Builder
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 792,097
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 14,472,402
 Unsecured Loans 2,419,927
 Other Loans 13,115,875
 TOTAL LOANS 30,008,204
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -250,948
 Land And Building 0
 Other Fixed Assets 13,509
 NCUSIF Deposit 321,120
 All Other Assets 0
  TOTAL ASSETS 36,520,720
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 251,662
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 4,409,123
 Regular shares 9,589,820
 All Other Shares & Deposits 17,352,225
  TOTAL SHARES & DEPOSITS 31,351,168
  TOTAL LIABILITIES 31,602,830
 Regular Reserve 0
 Other Reserves -154,262
 Undivided Earnings 5,072,152
  TOTAL EQUITY 4,917,890
  TOTAL LIABILITIES, SHARES, & EQUITY 36,520,720
INCOME & EXPENSE  
 Loan Income 1,732,356
 Investment Income 72,506
 Other Income 102,234
 Total Employee Compensation & Benefits 561,380
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 603,399
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 239,922
 Cost of Funds 460,023
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 112,649
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