Dec, 31, 2023 — TRADES & LABOR FEDERAL CREDIT UNION is a federal credit union headquartered in ALBERT LEA, MN with 1 branch location and about $20.14 million in total assets. Opened 66 years ago in 1958, TRADES & LABOR FEDERAL CREDIT UNION has about 2,303 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.
| Name: | TRADES & LABOR FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 610 S BROADWAY AVE ALBERT LEA, MN 56007-4526 |
| Phone: | (507) 377-1863 |
| Fax: | (507) 377-0116 |
| Website: | https://www.tradesandlabor.com |
| Branches: | 1 branch locations |
| Members: | 2,303 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 24674 |
|---|---|
| Membership Type: | Multiple common bond - Primarily finance, insurance, real estate, trade |
| Corporate Credit Union: | No |
| Year Opened: | 1958 |
| Last Audited: | Mar 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $20,139,724 |
| CEO/Manager: | Bradley A Skinness |
| Chairperson: | PAUL NIELSEN |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,852,990 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 2,520,346 |
| Unsecured Loans | 2,291,739 |
| Other Loans | 10,547,210 |
| TOTAL LOANS | 15,359,296 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -109,907 |
| Land And Building | 153,752 |
| Other Fixed Assets | 18,346 |
| NCUSIF Deposit | 167,805 |
| All Other Assets | 0 |
| TOTAL ASSETS | 20,139,724 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 78,128 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 12,864 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 3,398,223 |
| Regular shares | 9,646,350 |
| All Other Shares & Deposits | 4,510,279 |
| TOTAL SHARES & DEPOSITS | 17,554,852 |
| TOTAL LIABILITIES | 17,645,844 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 2,493,880 |
| TOTAL EQUITY | 2,493,880 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 20,139,724 |
| INCOME & EXPENSE | |
| Loan Income | 822,200 |
| Investment Income | 151,576 |
| Other Income | 325,081 |
| Total Employee Compensation & Benefits | 492,226 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 377,093 |
| Non-operating Income & (Expense) | 11,000 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 43,523 |
| Cost of Funds | 132,084 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 264,931 |
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