Dec, 31, 2023 — NORTH MEMORIAL FEDERAL CREDIT UNION is a federal credit union headquartered in ROBBINSDALE, MN with 2 branch locations and about $50.12 million in total assets. Opened 60 years ago in 1964, NORTH MEMORIAL FEDERAL CREDIT UNION has about 4,461 members and employs 13 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | NORTH MEMORIAL FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 3300 Oakdale Ave N ROBBINSDALE, MN 55422-2926 |
| Phone: | (763) 367-7700 |
| Fax: | (763) 367-7725 |
| Website: | https://www.northmemorialfcu.com |
| Branches: | 2 branch locations |
| Members: | 4,461 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 16248 |
|---|---|
| Membership Type: | Multiple common bond - Primarily health care |
| Corporate Credit Union: | No |
| Year Opened: | 1964 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $50,118,295 |
| CEO/Manager: | Dana Garrett |
| Chairperson: | Steven L Miller |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,951,513 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 16,086,210 |
| Unsecured Loans | 3,921,369 |
| Other Loans | 14,707,337 |
| TOTAL LOANS | 34,714,916 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -317,014 |
| Land And Building | 1,363,053 |
| Other Fixed Assets | 96,833 |
| NCUSIF Deposit | 455,095 |
| All Other Assets | 21,460 |
| TOTAL ASSETS | 50,118,295 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 78,983 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 255,248 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 8,567,461 |
| Regular shares | 20,533,143 |
| All Other Shares & Deposits | 15,709,997 |
| TOTAL SHARES & DEPOSITS | 44,810,601 |
| TOTAL LIABILITIES | 45,144,832 |
| Regular Reserve | 0 |
| Other Reserves | 438,329 |
| Undivided Earnings | 4,535,134 |
| TOTAL EQUITY | 4,973,463 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 50,118,295 |
| INCOME & EXPENSE | |
| Loan Income | 2,005,037 |
| Investment Income | 316,309 |
| Other Income | 187,952 |
| Total Employee Compensation & Benefits | 993,237 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,038,760 |
| Non-operating Income & (Expense) | 14,772 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 140,259 |
| Cost of Funds | 265,855 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 347,030 |
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