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DAKOTA PLAINS FEDERAL CREDIT UNION

Dec, 31, 2020 — DAKOTA PLAINS FEDERAL CREDIT UNION is a federal credit union headquartered in Lemmon, SD with 5 branch locations and about $65.39 million in total assets. Opened 64 years ago in 1957, DAKOTA PLAINS FEDERAL CREDIT UNION has about 4,789 members and employs 22 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:DAKOTA PLAINS FEDERAL CREDIT UNION
Address:
(Main Office)
PO Box 389
Lemmon, SD 57638-0389
Phone:(605) 374-3880
Fax:(605) 374-3181
Website:http://dakotaplainsfcu.com
Branches:5 branch locations
Members:4,789
Credit Union Type:Federal Credit Union
Charter Number:11526
Membership Type:Community credit unions, urban or rural, other than those designated 'low income'
Corporate Credit Union:No
Year Opened:1957
Last Audited:Sep 01, 2020
FHLB Member:Yes
Low Income Designation:No
Assets:$65,385,189
CEO/Manager:Richard D Lynch
Chairperson:Mike Schweitzer

Call Report

  • Commercial Loans
  • Indirect Consumer Loans
  • Overdraft Protection
  • Participation Loans
  • Real Estate Loans
  • Refund Anticipation Loans
  • Risk Based Loans
  • ATM/Debit Card Program
  • Commercial Share Accounts
  • Check Cashing
  • Insurance/Investment Sales
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 7,135,612
TOTAL INVESTMENTS 14,856,730
Loans Held for Sale 0
 
 Real Estate Loans 12,354,756
 Unsecured Loans 2,010,312
 Other Loans 26,740,449
 TOTAL LOANS 41,105,517
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -460,665
 Land And Building 1,594,393
 Other Fixed Assets 202,716
 NCUSIF Deposit 513,603
 All Other Assets 437,283
  TOTAL ASSETS 65,385,189
LIABILITIES & CAPITAL:  
 Dividends Payable 37,852
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 1,541,744
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 20,321,550
 Regular shares 18,361,447
 All Other Shares & Deposits 20,215,114
  TOTAL SHARES & DEPOSITS 58,898,111
  TOTAL LIABILITIES 60,477,707
 Regular Reserve 959,512
 Other Reserves 0
 Undivided Earnings 3,947,970
  TOTAL EQUITY 4,907,482
  TOTAL LIABILITIES, SHARES, & EQUITY 65,385,189
INCOME & EXPENSE  
 Loan Income 2,118,819
 Investment Income 65,033
 Other Income 399,396
 Total Employee Compensation & Benefits 1,382,628
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 991,039
 Non-operating Income & (Expense) 1
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense -23,926
 Cost of Funds 359,994
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -126,486
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