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DAKOTA PLAINS FEDERAL CREDIT UNION

Jun, 30, 2024 — DAKOTA PLAINS FEDERAL CREDIT UNION is a federal credit union headquartered in LEMMON, SD with 5 branch locations and about $73.55 million in total assets. Opened 68 years ago in 1957, DAKOTA PLAINS FEDERAL CREDIT UNION has about 4,705 members and employs 21 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)
519 Main Ave
LEMMON, SD 57638-1421
Phone:(605) 374-3880
Fax:(605) 374-3181
Website:https://dakotaplainsfcu.com
Branches:5 branch locations
Members:4,705
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, 2022
FHLB Member:Yes
Low Income Designation:No
Assets:$73,552,968
CEO/Manager:Richard D Lynch
Chairperson:Mike Schweitzer

Call Report

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Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 4,451,547
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 10,987,294
 Unsecured Loans 2,564,788
 Other Loans 30,983,534
 TOTAL LOANS 44,686,856
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -545,175
 Land And Building 1,501,784
 Other Fixed Assets 130,175
 NCUSIF Deposit 628,330
 All Other Assets 0
  TOTAL ASSETS 73,552,968
LIABILITIES & CAPITAL:  
 Dividends Payable 20,627
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 1,029,340
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 20,725,467
 Regular shares 27,936,987
 All Other Shares & Deposits 18,246,099
  TOTAL SHARES & DEPOSITS 66,908,553
  TOTAL LIABILITIES 67,958,520
 Regular Reserve 0
 Other Reserves 959,512
 Undivided Earnings 4,634,936
  TOTAL EQUITY 5,594,448
  TOTAL LIABILITIES, SHARES, & EQUITY 73,552,968
INCOME & EXPENSE  
 Loan Income 1,525,181
 Investment Income 164,647
 Other Income 344,495
 Total Employee Compensation & Benefits 1,057,918
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 783,781
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 120,000
 Cost of Funds 188,813
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 218,204
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