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HERITAGE GROVE FEDERAL CREDIT UNION

Mar, 31, 2021 — HERITAGE GROVE FEDERAL CREDIT UNION is a federal credit union headquartered in SALEM, OR with 1 branch location and about $141.41 million in total assets. Opened 57 years ago in 1964, HERITAGE GROVE FEDERAL CREDIT UNION has about 8,839 members and employs 28 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 323276391
Name:HERITAGE GROVE FEDERAL CREDIT UNION
Address:
(Main Office)
PO BOX 2227
SALEM, OR 97309
Phone:(503) 588-0211
Fax:(503) 371-7323
Website:http://www.ourgrovecu.com
Branches:1 branch locations
Members:8,839
Credit Union Type:Federal Credit Union
Charter Number:16113
Membership Type:Community credit unions, urban or rural, other than those designated 'low income'
Corporate Credit Union:No
Year Opened:1964
Last Audited:Mar 01, 2020
FHLB Member:Yes
Low Income Designation:No
Assets:$141,413,116
CEO/Manager:James A Mau
Chairperson:Shelley Sneed

Call Report

  • Commercial Loans
  • Debt Cancellation/Suspension
  • Indirect Consumer Loans
  • Interest Only or Payment Option 1st Mortgage Loans
  • Overdraft Lines of Credit
  • Overdraft Protection
  • Participation Loans
  • Real Estate Loans
  • Risk Based Loans
  • Share Secured Credit Cards
  • 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 35,567,954
TOTAL INVESTMENTS 27,948,000
Loans Held for Sale 720,000
 
 Real Estate Loans 26,389,175
 Unsecured Loans 3,330,443
 Other Loans 44,466,734
 TOTAL LOANS 74,186,352
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -445,338
 Land And Building 1,626,574
 Other Fixed Assets 48,551
 NCUSIF Deposit 1,117,573
 All Other Assets 643,450
  TOTAL ASSETS 141,413,116
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 659,602
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 27,954,214
 Regular shares 60,370,633
 All Other Shares & Deposits 38,969,795
  TOTAL SHARES & DEPOSITS 127,294,642
  TOTAL LIABILITIES 127,954,244
 Regular Reserve 874,110
 Other Reserves 0
 Undivided Earnings 12,584,762
  TOTAL EQUITY 13,458,872
  TOTAL LIABILITIES, SHARES, & EQUITY 141,413,116
INCOME & EXPENSE  
 Loan Income 917,656
 Investment Income 61,328
 Other Income 245,090
 Total Employee Compensation & Benefits 498,017
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 540,925
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 46,046
 Cost of Funds 31,442
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 134,403
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