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FORT MORGAN SCHOOLS FEDERAL CREDIT UNION

Dec, 31, 2023 — FORT MORGAN SCHOOLS FEDERAL CREDIT UNION is a federal credit union headquartered in FORT MORGAN, CO with 1 branch location and about $4.49 million in total assets. Opened 69 years ago in 1955, FORT MORGAN SCHOOLS FEDERAL CREDIT UNION has about 523 members offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:FORT MORGAN SCHOOLS FEDERAL CREDIT UNION
Address:
(Main Office)
212 E Kiowa Ave
FORT MORGAN, CO 80701
Phone:(970) 867-4028
Fax:(970) 867-4659
Website:n/a
Branches:1 branch locations
Members:523
Credit Union Type:Federal Credit Union
Charter Number:10180
Membership Type:Multiple common bond - Primarily educational
Corporate Credit Union:No
Year Opened:1955
Last Audited:Jun 01, 2023
FHLB Member:No
Low Income Designation:No
Assets:$4,485,372
CEO/Manager:Phillip J Stadler
Chairperson:Brian Nickell

Call Report

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 178,350
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 1,521,577
 Unsecured Loans 75,517
 Other Loans 2,213,818
 TOTAL LOANS 3,810,912
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -23,974
 Land And Building 0
 Other Fixed Assets 0
 NCUSIF Deposit 39,511
 All Other Assets 0
  TOTAL ASSETS 4,485,372
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 4,237
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 0
 Regular shares 1,980,633
 All Other Shares & Deposits 1,684,715
  TOTAL SHARES & DEPOSITS 3,665,348
  TOTAL LIABILITIES 3,669,585
 Regular Reserve 0
 Other Reserves 0
 Undivided Earnings 815,787
  TOTAL EQUITY 815,787
  TOTAL LIABILITIES, SHARES, & EQUITY 4,485,372
INCOME & EXPENSE  
 Loan Income 171,574
 Investment Income 14,120
 Other Income 4,737
 Total Employee Compensation & Benefits 51,323
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 51,671
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 23,658
 Cost of Funds 65,715
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -1,936
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