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NORTHWEST MUNICIPAL FEDERAL CREDIT UNION

Dec, 31, 2020 — NORTHWEST MUNICIPAL FEDERAL CREDIT UNION is a federal credit union headquartered in Des Plaines, IL with 1 branch location and about $34.75 million in total assets. Opened 55 years ago in 1966, NORTHWEST MUNICIPAL FEDERAL CREDIT UNION has about 1,745 members and employs 4 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, Room 405
Des Plaines, IL 60016
Phone:(847) 391-5369
Fax:(847) 391-5479
Website:http://www.mynmfcu.com
Branches:1 branch locations
Members:1,745
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, 2019
FHLB Member:No
Low Income Designation:No
Assets:$34,753,038
CEO/Manager:Nick Chiaro
Chairperson:Tom Christiansen

Call Report

  • Real Estate Loans
  • Risk Based Loans
  • ATM/Debit Card Program
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 2,429,774
TOTAL INVESTMENTS 17,783,884
Loans Held for Sale 0
 
 Real Estate Loans 3,307,198
 Unsecured Loans 1,633,870
 Other Loans 9,324,785
 TOTAL LOANS 14,265,853
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -27,974
 Land And Building 0
 Other Fixed Assets 17,684
 NCUSIF Deposit 271,177
 All Other Assets 12,640
  TOTAL ASSETS 34,753,038
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities -2,749
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 1,186,168
 Regular shares 29,851,360
 All Other Shares & Deposits 0
  TOTAL SHARES & DEPOSITS 31,037,528
  TOTAL LIABILITIES 31,034,779
 Regular Reserve 218,217
 Other Reserves 0
 Undivided Earnings 3,500,042
  TOTAL EQUITY 3,718,259
  TOTAL LIABILITIES, SHARES, & EQUITY 34,753,038
INCOME & EXPENSE  
 Loan Income 581,021
 Investment Income 360,616
 Other Income 47,475
 Total Employee Compensation & Benefits 327,332
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 176,701
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 13,500
 Cost of Funds 170,628
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 300,951
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