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M O FEDERAL CREDIT UNION

Dec, 31, 2023 — M O FEDERAL CREDIT UNION is a federal credit union headquartered in HURON, SD with 2 branch locations and about $40.73 million in total assets. Opened 74 years ago in 1950, M O FEDERAL CREDIT UNION has about 1,788 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.


ABA Routing Number: 291479424
Name:M O FEDERAL CREDIT UNION
Address:
(Main Office)
1730 Dakota Ave S
HURON, SD 57350
Phone:(605) 353-9977
Fax:(605) 353-1732
Website:https://m-ofcu.com
Branches:2 branch locations
Members:1,788
Credit Union Type:Federal Credit Union
Charter Number:7020
Membership Type:Multiple common bond - Primarily federal, state, local government
Corporate Credit Union:No
Year Opened:1950
Last Audited:Jun 01, 2023
FHLB Member:No
Low Income Designation:No
Assets:$40,725,752
CEO/Manager:Gail L Broer
Chairperson:Ronald Russell

Call Report

  • First Time Homebuyer Program
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 1,167,035
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 13,229,293
 Unsecured Loans 1,039,585
 Other Loans 7,830,170
 TOTAL LOANS 22,099,048
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -71,932
 Land And Building 379,039
 Other Fixed Assets 71,132
 NCUSIF Deposit 342,109
 All Other Assets 0
  TOTAL ASSETS 40,725,752
LIABILITIES & CAPITAL:  
 Dividends Payable 99,193
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 148,229
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 8,440,362
 Regular shares 14,972,573
 All Other Shares & Deposits 12,387,753
  TOTAL SHARES & DEPOSITS 35,800,688
  TOTAL LIABILITIES 36,048,110
 Regular Reserve 0
 Other Reserves 0
 Undivided Earnings 4,677,642
  TOTAL EQUITY 4,677,642
  TOTAL LIABILITIES, SHARES, & EQUITY 40,725,752
INCOME & EXPENSE  
 Loan Income 878,926
 Investment Income 309,875
 Other Income 47,015
 Total Employee Compensation & Benefits 594,227
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 309,125
 Non-operating Income & (Expense) 296
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 267,474
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 142,055
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