Sep, 30, 2025 — NORTH SHORE FEDERAL CREDIT UNION is a federal credit union headquartered in SILVER BAY, MN with 8 branch locations and about $286.77 million in total assets. Opened 59 years ago in 1967, NORTH SHORE FEDERAL CREDIT UNION has about 13,753 members and employs 73 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 SHORE FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 85 Outer Dr SILVER BAY, MN 55614-1132 |
| Phone: | (218) 226-4401 |
| Fax: | (218) 226-4553 |
| Website: | https://www.northshorefcu.org |
| Branches: | 8 branch locations |
| Members: | 13,753 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 18473 |
|---|---|
| Membership Type: | Community - Rural District |
| Corporate Credit Union: | No |
| Year Opened: | 1967 |
| Last Audited: | Jun 01, 2025 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $286,773,958 |
| CEO/Manager: | Cassie L Ernest |
| Chairperson: | Judy Motschenbacher |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 33,483,614 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 142,185,396 |
| Unsecured Loans | 3,077,492 |
| Other Loans | 74,140,191 |
| TOTAL LOANS | 219,403,079 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -153,628 |
| Land And Building | 3,209,780 |
| Other Fixed Assets | 1,594,571 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 2,301,221 |
| All Other Assets | 6,665 |
| TOTAL ASSETS | 286,773,958 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 149,633 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 793,386 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 64,220,833 |
| Regular shares | 68,205,581 |
| All Other Shares & Deposits | 117,657,177 |
| TOTAL SHARES & DEPOSITS | 250,083,593 |
| TOTAL LIABILITIES | 251,026,612 |
| Regular Reserve | 0 |
| Other Reserves | 1,004,345 |
| Undivided Earnings | 34,743,001 |
| TOTAL EQUITY | 35,747,346 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 286,773,958 |
| INCOME & EXPENSE | |
| Loan Income | 8,468,896 |
| Investment Income | 2,207,012 |
| Other Income | 638,213 |
| Total Employee Compensation & Benefits | 4,609,847 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 3,633,352 |
| Non-operating Income & (Expense) | -1,143 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 57,957 |
| Cost of Funds | 2,925,223 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,014,328 |
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