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EAST RIVER FEDERAL CREDIT UNION

Dec, 31, 2023 — EAST RIVER FEDERAL CREDIT UNION is a federal credit union headquartered in MADISON, SD with 1 branch location and about $38.92 million in total assets. Opened 68 years ago in 1956, EAST RIVER FEDERAL CREDIT UNION has about 3,372 members and employs 9 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 291479453
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:3,372
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, 2023
FHLB Member:No
Low Income Designation:No
Assets:$38,923,527
CEO/Manager:Tanya M Hobson
Chairperson:Randy Hoffman

Call Report

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Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 2,440,574
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 2,161,833
 Unsecured Loans 1,190,647
 Other Loans 20,337,535
 TOTAL LOANS 23,690,015
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -124,898
 Land And Building 759,072
 Other Fixed Assets 13,697
 NCUSIF Deposit 431,512
 All Other Assets 0
  TOTAL ASSETS 38,923,527
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities -637,226
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 11,068,706
 Regular shares 15,021,731
 All Other Shares & Deposits 10,218,415
  TOTAL SHARES & DEPOSITS 36,308,852
  TOTAL LIABILITIES 35,671,626
 Regular Reserve 0
 Other Reserves -369,637
 Undivided Earnings 3,621,538
  TOTAL EQUITY 3,251,901
  TOTAL LIABILITIES, SHARES, & EQUITY 38,923,527
INCOME & EXPENSE  
 Loan Income 1,007,414
 Investment Income 378,087
 Other Income 256,551
 Total Employee Compensation & Benefits 733,428
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 845,260
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense -12,815
 Cost of Funds 76,770
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 286,408
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