Dec, 31, 2023 — NORTHERN HILLS FEDERAL CREDIT UNION is a federal credit union headquartered in STURGIS, SD with 5 branch locations and about $152.02 million in total assets. Opened 74 years ago in 1950, NORTHERN HILLS FEDERAL CREDIT UNION has about 11,227 members and employs 38 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | NORTHERN HILLS FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 1080 MAIN ST STURGIS, SD 57785 |
| Phone: | (605) 720-6750 |
| Fax: | (605) 347-3021 |
| Website: | https://www.northernhillsfcu.org |
| Branches: | 5 branch locations |
| Members: | 11,227 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 6986 |
|---|---|
| Membership Type: | Community - Rural District |
| Corporate Credit Union: | No |
| Year Opened: | 1950 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $152,016,243 |
| CEO/Manager: | Floyd A Rummel III |
| Chairperson: | Rory D Maynard |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 5,731,730 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 44,263,271 |
| Unsecured Loans | 3,537,091 |
| Other Loans | 63,599,200 |
| TOTAL LOANS | 114,214,974 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -489,296 |
| Land And Building | 3,755,906 |
| Other Fixed Assets | 1,638,997 |
| NCUSIF Deposit | 1,175,921 |
| All Other Assets | 122,549 |
| TOTAL ASSETS | 152,016,243 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 10,000,000 |
| Accounts Payable & Other Liabilities | 3,060,928 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 28,334,115 |
| Regular shares | 49,569,801 |
| All Other Shares & Deposits | 46,603,248 |
| TOTAL SHARES & DEPOSITS | 124,507,164 |
| TOTAL LIABILITIES | 137,568,092 |
| Regular Reserve | 0 |
| Other Reserves | 1,712,088 |
| Undivided Earnings | 12,736,063 |
| TOTAL EQUITY | 14,448,151 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 152,016,243 |
| INCOME & EXPENSE | |
| Loan Income | 5,930,440 |
| Investment Income | 572,232 |
| Other Income | 637,612 |
| Total Employee Compensation & Benefits | 2,622,836 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 2,742,605 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 150,000 |
| Cost of Funds | 989,317 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,486,524 |
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