Dec, 31, 2023 — MED5 FEDERAL CREDIT UNION is a federal credit union headquartered in RAPID CITY, SD with 2 branch locations and about $131.35 million in total assets. Opened 58 years ago in 1966, MED5 FEDERAL CREDIT UNION has about 7,216 members and employs 28 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | MED5 FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 4956 5th St RAPID CITY, SD 57701 |
| Phone: | (605) 342-7776 |
| Fax: | (605) 348-3172 |
| Website: | https://www.aspenfcu.org |
| Branches: | 2 branch locations |
| Members: | 7,216 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 17224 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1966 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $131,353,704 |
| CEO/Manager: | Pamela L Brown-Graff |
| Chairperson: | Deborah W Larson |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 5,134,421 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 45,559,667 |
| Unsecured Loans | 4,811,248 |
| Other Loans | 64,568,619 |
| TOTAL LOANS | 114,939,534 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -337,687 |
| Land And Building | 8,234,001 |
| Other Fixed Assets | 1,007,343 |
| NCUSIF Deposit | 1,090,392 |
| All Other Assets | 309,352 |
| TOTAL ASSETS | 131,353,704 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 132,947 |
| Notes & Interest Payable | 7,000,000 |
| Accounts Payable & Other Liabilities | 274,386 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 24,126,615 |
| Regular shares | 30,089,188 |
| All Other Shares & Deposits | 58,783,147 |
| TOTAL SHARES & DEPOSITS | 112,998,950 |
| TOTAL LIABILITIES | 120,406,283 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 10,947,421 |
| TOTAL EQUITY | 10,947,421 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 131,353,704 |
| INCOME & EXPENSE | |
| Loan Income | 6,684,688 |
| Investment Income | 43,228 |
| Other Income | 1,764,732 |
| Total Employee Compensation & Benefits | 1,865,160 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 3,323,696 |
| Non-operating Income & (Expense) | 39,597 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 113,767 |
| Cost of Funds | 1,917,472 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,327,761 |
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