Jun, 30, 2023 — NORTHWEST MUNICIPAL FEDERAL CREDIT UNION is a federal credit union headquartered in DES PLAINES, IL with 1 branch location and about $39.00 million in total assets. Opened 57 years ago in 1966, NORTHWEST MUNICIPAL FEDERAL CREDIT UNION has about 1,756 members and employs 5 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | NORTHWEST MUNICIPAL FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 1420 Miner St DES PLAINES, IL 60016 |
| Phone: | (847) 391-5369 |
| Fax: | (847) 391-5479 |
| Website: | https://www.mynmfcu.com |
| Branches: | 1 branch locations |
| Members: | 1,756 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 17752 |
|---|---|
| Membership Type: | Multiple common bond - Primarily federal, state, local government |
| Corporate Credit Union: | No |
| Year Opened: | 1966 |
| Last Audited: | Sep 01, 2021 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $39,001,639 |
| CEO/Manager: | Nick Chiaro |
| Chairperson: | Tom Christiansen |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,544,796 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 2,629,862 |
| Unsecured Loans | 1,386,135 |
| Other Loans | 10,473,054 |
| TOTAL LOANS | 14,489,051 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -8,604 |
| Land And Building | 0 |
| Other Fixed Assets | 1,658 |
| NCUSIF Deposit | 326,008 |
| All Other Assets | 0 |
| TOTAL ASSETS | 39,001,639 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 1,247 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 1,503,304 |
| Regular shares | 33,509,111 |
| All Other Shares & Deposits | 0 |
| TOTAL SHARES & DEPOSITS | 35,012,415 |
| TOTAL LIABILITIES | 35,013,662 |
| Regular Reserve | 0 |
| Other Reserves | 218,217 |
| Undivided Earnings | 3,769,760 |
| TOTAL EQUITY | 3,987,977 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 39,001,639 |
| INCOME & EXPENSE | |
| Loan Income | 391,560 |
| Investment Income | 227,343 |
| Other Income | 5,051 |
| Total Employee Compensation & Benefits | 262,576 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 145,965 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 2,100 |
| Cost of Funds | 162,940 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 73,873 |
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