Jun, 30, 2024 — EAST RIVER FEDERAL CREDIT UNION is a federal credit union headquartered in MADISON, SD with 1 branch location and about $48.40 million in total assets. Opened 68 years ago in 1956, EAST RIVER FEDERAL CREDIT UNION has about 3,412 members and employs 8 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | EAST RIVER FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 220 S Harth Ave MADISON, SD 57042-2916 |
| Phone: | (605) 256-8145 |
| Fax: | (605) 256-8053 |
| Website: | https://www.eastriverfcu.com |
| Branches: | 1 branch locations |
| Members: | 3,412 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 11353 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1956 |
| Last Audited: | Jun 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $48,400,200 |
| CEO/Manager: | Tanya M Hobson |
| Chairperson: | Jeffrey Nelson |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 12,896,518 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 1,894,484 |
| Unsecured Loans | 1,471,424 |
| Other Loans | 17,920,158 |
| TOTAL LOANS | 21,286,066 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -104,684 |
| Land And Building | 807,457 |
| Other Fixed Assets | 43,112 |
| NCUSIF Deposit | 415,390 |
| All Other Assets | 0 |
| TOTAL ASSETS | 48,400,200 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | -187,344 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 11,926,251 |
| Regular shares | 18,153,727 |
| All Other Shares & Deposits | 16,124,669 |
| TOTAL SHARES & DEPOSITS | 46,204,647 |
| TOTAL LIABILITIES | 46,017,303 |
| Regular Reserve | 0 |
| Other Reserves | -807,779 |
| Undivided Earnings | 3,190,676 |
| TOTAL EQUITY | 2,382,897 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 48,400,200 |
| INCOME & EXPENSE | |
| Loan Income | 636,536 |
| Investment Income | 219,695 |
| Other Income | 189,288 |
| Total Employee Compensation & Benefits | 545,309 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 622,458 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
| Cost of Funds | 63,250 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 67,843 |
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