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 |
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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 |
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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 |
ASSETS: | $ Amount |
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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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