Dec, 31, 2023 — ELKO FEDERAL CREDIT UNION is a federal credit union headquartered in ELKO, NV with 2 branch locations and about $268.59 million in total assets. Opened 64 years ago in 1960, ELKO FEDERAL CREDIT UNION has about 17,066 members and employs 52 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | ELKO FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 2397 Mountain City Hwy ELKO, NV 89801 |
| Phone: | (775) 738-4083 |
| Fax: | (775) 738-2582 |
| Website: | https://www.elkofcu.org |
| Branches: | 2 branch locations |
| Members: | 17,066 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 13800 |
|---|---|
| Membership Type: | Community - Rural District |
| Corporate Credit Union: | No |
| Year Opened: | 1960 |
| Last Audited: | Apr 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $268,594,124 |
| CEO/Manager: | Todd D Sorenson |
| Chairperson: | Thomas C Ballew |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 42,183,152 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 90,628,181 |
| Unsecured Loans | 3,500,318 |
| Other Loans | 87,848,876 |
| TOTAL LOANS | 181,977,375 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -361,344 |
| Land And Building | 7,900,912 |
| Other Fixed Assets | 1,936,817 |
| NCUSIF Deposit | 2,144,721 |
| All Other Assets | 0 |
| TOTAL ASSETS | 268,594,124 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 1,225,216 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 56,267,898 |
| Regular shares | 130,221,625 |
| All Other Shares & Deposits | 48,646,745 |
| TOTAL SHARES & DEPOSITS | 235,136,268 |
| TOTAL LIABILITIES | 236,361,484 |
| Regular Reserve | 0 |
| Other Reserves | 16,052 |
| Undivided Earnings | 32,216,588 |
| TOTAL EQUITY | 32,232,640 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 268,594,124 |
| INCOME & EXPENSE | |
| Loan Income | 8,792,140 |
| Investment Income | 2,914,037 |
| Other Income | 1,419,374 |
| Total Employee Compensation & Benefits | 3,805,005 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 4,501,710 |
| 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 | 1,917,025 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 4,581,616 |
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