Dec, 31, 2023 — RUSHMORE ELECTRIC FEDERAL CREDIT UNION is a federal credit union headquartered in RAPID CITY, SD with 1 branch location and about $23.21 million in total assets. Opened 60 years ago in 1964, RUSHMORE ELECTRIC FEDERAL CREDIT UNION has about 1,494 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: | RUSHMORE ELECTRIC FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 1715 Cambell St RAPID CITY, SD 57701 |
| Phone: | (605) 342-9451 |
| Fax: | |
| Website: | https://www.refcu.coop |
| Branches: | 1 branch locations |
| Members: | 1,494 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 16444 |
|---|---|
| Membership Type: | Service - Communications and Utilities |
| Corporate Credit Union: | No |
| Year Opened: | 1964 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $23,206,920 |
| CEO/Manager: | Pamela D Ferber |
| Chairperson: | Chris Rahn |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 877,479 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 933,287 |
| Other Loans | 7,200,097 |
| TOTAL LOANS | 8,133,384 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -72,279 |
| Land And Building | 0 |
| Other Fixed Assets | 942 |
| NCUSIF Deposit | 191,912 |
| All Other Assets | 0 |
| TOTAL ASSETS | 23,206,920 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 62,241 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 56,019 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 1,273,231 |
| Regular shares | 6,427,234 |
| All Other Shares & Deposits | 12,845,336 |
| TOTAL SHARES & DEPOSITS | 20,545,801 |
| TOTAL LIABILITIES | 20,664,061 |
| Regular Reserve | 0 |
| Other Reserves | 765,742 |
| Undivided Earnings | 1,777,117 |
| TOTAL EQUITY | 2,542,859 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 23,206,920 |
| INCOME & EXPENSE | |
| Loan Income | 428,259 |
| Investment Income | 301,474 |
| Other Income | 14,568 |
| Total Employee Compensation & Benefits | 390,314 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 255,875 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | -24,156 |
| Cost of Funds | 204,226 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 5,050 |
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