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MINOT AREA SCHOOLS FEDERAL CREDIT UNION

Dec, 31, 2023 — MINOT AREA SCHOOLS FEDERAL CREDIT UNION is a federal credit union headquartered in MINOT, ND with 1 branch location and about $12.24 million in total assets. Opened 71 years ago in 1953, MINOT AREA SCHOOLS FEDERAL CREDIT UNION has about 1,538 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:MINOT AREA SCHOOLS FEDERAL CREDIT UNION
Address:
(Main Office)
215 2nd St SE
MINOT, ND 58701
Phone:(701) 857-4430
Fax:(701) 857-4462
Website:https://www.masfcu.org
Branches:1 branch locations
Members:1,538
Credit Union Type:Federal Credit Union
Charter Number:8943
Membership Type:Multiple common bond - Primarily educational
Corporate Credit Union:No
Year Opened:1953
Last Audited:Jun 01, 2023
FHLB Member:No
Low Income Designation:No
Assets:$12,237,818
CEO/Manager:Mindy J Faaiuaso
Chairperson:Neil Moore

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 1,745,161
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 547,350
 Other Loans 6,129,517
 TOTAL LOANS 6,676,869
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -5,000
 Land And Building 0
 Other Fixed Assets 0
 NCUSIF Deposit 113,031
 All Other Assets 0
  TOTAL ASSETS 12,237,818
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 9,831
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 2,595,168
 Regular shares 6,538,272
 All Other Shares & Deposits 2,068,498
  TOTAL SHARES & DEPOSITS 11,201,938
  TOTAL LIABILITIES 11,211,769
 Regular Reserve 0
 Other Reserves 191,876
 Undivided Earnings 834,173
  TOTAL EQUITY 1,026,049
  TOTAL LIABILITIES, SHARES, & EQUITY 12,237,818
INCOME & EXPENSE  
 Loan Income 189,061
 Investment Income 145,174
 Other Income 22,386
 Total Employee Compensation & Benefits 136,203
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 112,894
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 5,000
 Cost of Funds 34,260
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 88,744
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