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NORTHERN VALLEY FEDERAL CREDIT UNION

Dec, 31, 2020 — NORTHERN VALLEY FEDERAL CREDIT UNION is a federal credit union headquartered in Grand Forks, ND with 1 branch location and about $15.92 million in total assets. Opened 85 years ago in 1936, NORTHERN VALLEY FEDERAL CREDIT UNION has about 1,364 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:1,364
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:$15,916,946
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 4,564,278
TOTAL INVESTMENTS 2,064,996
Loans Held for Sale 0
 
 Real Estate Loans 772,772
 Unsecured Loans 207,967
 Other Loans 7,516,083
 TOTAL LOANS 8,496,822
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -60,385
 Land And Building 645,830
 Other Fixed Assets 46,480
 NCUSIF Deposit 121,520
 All Other Assets 37,405
  TOTAL ASSETS 15,916,946
LIABILITIES & CAPITAL:  
 Dividends Payable 8,492
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 63,300
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 3,172,769
 Regular shares 8,465,296
 All Other Shares & Deposits 2,466,415
  TOTAL SHARES & DEPOSITS 14,104,480
  TOTAL LIABILITIES 14,176,272
 Regular Reserve 465,321
 Other Reserves 0
 Undivided Earnings 1,275,353
  TOTAL EQUITY 1,740,674
  TOTAL LIABILITIES, SHARES, & EQUITY 15,916,946
INCOME & EXPENSE  
 Loan Income 368,948
 Investment Income 53,270
 Other Income 164,412
 Total Employee Compensation & Benefits 219,517
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 302,212
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 20,606
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 44,295
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