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NORTHERN VALLEY FEDERAL CREDIT UNION

Mar, 31, 2021 — NORTHERN VALLEY FEDERAL CREDIT UNION is a federal credit union headquartered in Grand Forks, ND with 1 branch location and about $17.80 million in total assets. Opened 85 years ago in 1936, NORTHERN VALLEY FEDERAL CREDIT UNION has about 1,373 members and employs 3 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:NORTHERN VALLEY FEDERAL CREDIT UNION
Address:
(Main Office)
3030 Demers Ave
Grand Forks, ND 58201
Phone:(701) 772-7922
Fax:(701) 772-5076
Website:http://northernvalleyfcu.com
Branches:1 branch locations
Members:1,373
Credit Union Type:Federal Credit Union
Charter Number:1344
Membership Type:Community - Rural District
Corporate Credit Union:No
Year Opened:1936
Last Audited:Sep 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$17,801,433
CEO/Manager:Nancy S Vodden
Chairperson:Ole Borgen

Call Report

  • Overdraft Lines of Credit
  • Real Estate Loans
  • Risk Based Loans
  • Share Secured Credit Cards
  • ATM/Debit Card Program
  • Check Cashing
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 6,015,513
TOTAL INVESTMENTS 2,314,996
Loans Held for Sale 0
 
 Real Estate Loans 735,701
 Unsecured Loans 195,327
 Other Loans 7,764,410
 TOTAL LOANS 8,695,438
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -60,494
 Land And Building 642,157
 Other Fixed Assets 44,648
 NCUSIF Deposit 118,260
 All Other Assets 30,915
  TOTAL ASSETS 17,801,433
LIABILITIES & CAPITAL:  
 Dividends Payable 5,220
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 61,383
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 3,781,948
 Regular shares 9,714,252
 All Other Shares & Deposits 2,496,805
  TOTAL SHARES & DEPOSITS 15,993,005
  TOTAL LIABILITIES 16,059,608
 Regular Reserve 465,321
 Other Reserves 0
 Undivided Earnings 1,276,504
  TOTAL EQUITY 1,741,825
  TOTAL LIABILITIES, SHARES, & EQUITY 17,801,433
INCOME & EXPENSE  
 Loan Income 86,557
 Investment Income 5,734
 Other Income 40,660
 Total Employee Compensation & Benefits 56,354
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 72,067
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 3,745
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 1,151
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