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WHITE EARTH RESERVATION FEDERAL CREDIT UNION

Dec, 31, 2023 — WHITE EARTH RESERVATION FEDERAL CREDIT UNION is a federal credit union headquartered in Mahnomen, MN with 1 branch location and about $2.99 million in total assets. Opened 58 years ago in 1966, WHITE EARTH RESERVATION FEDERAL CREDIT UNION has about 1,416 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:WHITE EARTH RESERVATION FEDERAL CREDIT UNION
Address:
(Main Office)
P.O. Box 360, 785 Hwy 59 South
Mahnomen, MN 56557
Phone:(218) 935-0862
Fax:(218) 935-0863
Website:https://www.whiteearthfcu.com
Branches:1 branch locations
Members:1,416
Credit Union Type:Federal Credit Union
Charter Number:17749
Membership Type:Community credit unions, urban or rural, other than those designated 'low income'
Corporate Credit Union:No
Year Opened:1966
Last Audited:Mar 01, 2021
FHLB Member:No
Low Income Designation:No
Assets:$2,991,550
CEO/Manager:Gavin J Schmidt
Chairperson:Leonard Wadena

Call Report

  • Payday Alternative Loans (PAL Loans)
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 1,016,562
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 631,438
 Other Loans 1,291,528
 TOTAL LOANS 1,922,966
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -26,159
 Land And Building 0
 Other Fixed Assets 19,269
 NCUSIF Deposit 21,246
 All Other Assets 0
  TOTAL ASSETS 2,991,550
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 72,070
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 416,630
 Regular shares 2,260,591
 All Other Shares & Deposits 48,119
  TOTAL SHARES & DEPOSITS 2,725,340
  TOTAL LIABILITIES 2,797,410
 Regular Reserve 0
 Other Reserves 30,816
 Undivided Earnings 163,324
  TOTAL EQUITY 194,140
  TOTAL LIABILITIES, SHARES, & EQUITY 2,991,550
INCOME & EXPENSE  
 Loan Income 30,982
 Investment Income 4,370
 Other Income 54,195
 Total Employee Compensation & Benefits 53,965
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 23,389
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 423
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 12,190
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