Dec, 31, 2023 — DAKOTA PLAINS FEDERAL CREDIT UNION is a federal credit union headquartered in LEMMON, SD with 5 branch locations and about $69.93 million in total assets. Opened 67 years ago in 1957, DAKOTA PLAINS FEDERAL CREDIT UNION has about 4,798 members and employs 23 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | DAKOTA PLAINS FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 519 Main Ave LEMMON, SD 57638-1421 |
| Phone: | (605) 374-3880 |
| Fax: | (888) 886-7741 |
| Website: | https://dakotaplainsfcu.com |
| Branches: | 5 branch locations |
| Members: | 4,798 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 11526 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1957 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $69,930,300 |
| CEO/Manager: | Brent Dirk |
| Chairperson: | Mike Schweitzer |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 3,091,668 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 11,342,402 |
| Unsecured Loans | 2,658,613 |
| Other Loans | 33,271,428 |
| TOTAL LOANS | 47,272,443 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -907,869 |
| Land And Building | 1,554,103 |
| Other Fixed Assets | 139,449 |
| NCUSIF Deposit | 559,180 |
| All Other Assets | 0 |
| TOTAL ASSETS | 69,930,300 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 105,514 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 1,612,653 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 20,490,181 |
| Regular shares | 22,336,312 |
| All Other Shares & Deposits | 20,226,049 |
| TOTAL SHARES & DEPOSITS | 63,052,542 |
| TOTAL LIABILITIES | 64,770,709 |
| Regular Reserve | 0 |
| Other Reserves | 959,512 |
| Undivided Earnings | 4,200,079 |
| TOTAL EQUITY | 5,159,591 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 69,930,300 |
| INCOME & EXPENSE | |
| Loan Income | 2,894,307 |
| Investment Income | 344,614 |
| Other Income | 261,234 |
| Total Employee Compensation & Benefits | 1,594,157 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,094,619 |
| Non-operating Income & (Expense) | 22,928 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 399,608 |
| Cost of Funds | 486,041 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 185,286 |
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