Dec, 31, 2023 — PALACE CITY FEDERAL CREDIT UNION is a federal credit union headquartered in MITCHELL, SD with 1 branch location and about $14.61 million in total assets. Opened 65 years ago in 1959, PALACE CITY FEDERAL CREDIT UNION has about 1,611 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.
| Name: | PALACE CITY FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 720 W Havens Ave MITCHELL, SD 57301 |
| Phone: | (605) 996-9211 |
| Fax: | (605) 996-3957 |
| Website: | https://www.palacecitycu.org |
| Branches: | 1 branch locations |
| Members: | 1,611 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 13103 |
|---|---|
| Membership Type: | Multiple common bond - Primarily federal, state, local government |
| Corporate Credit Union: | No |
| Year Opened: | 1959 |
| Last Audited: | Jan 01, 2024 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $14,614,926 |
| CEO/Manager: | ANDREW PRIEBE |
| Chairperson: | Lisa Neugebauer |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 989,173 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 1,529,945 |
| Unsecured Loans | 220,455 |
| Other Loans | 6,378,929 |
| TOTAL LOANS | 8,129,329 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -40,763 |
| Land And Building | 151,802 |
| Other Fixed Assets | 16,718 |
| NCUSIF Deposit | 142,484 |
| All Other Assets | 0 |
| TOTAL ASSETS | 14,614,926 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 45,459 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 1,861,656 |
| Regular shares | 9,485,277 |
| All Other Shares & Deposits | 1,737,081 |
| TOTAL SHARES & DEPOSITS | 13,084,014 |
| TOTAL LIABILITIES | 13,129,473 |
| Regular Reserve | 0 |
| Other Reserves | 185,528 |
| Undivided Earnings | 1,299,925 |
| TOTAL EQUITY | 1,485,453 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 14,614,926 |
| INCOME & EXPENSE | |
| Loan Income | 429,116 |
| Investment Income | 190,335 |
| Other Income | 38,185 |
| Total Employee Compensation & Benefits | 306,110 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 225,835 |
| Non-operating Income & (Expense) | 59,308 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
| Cost of Funds | 89,594 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 113,578 |
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