Dec, 31, 2023 — NORTH SHORE FEDERAL CREDIT UNION is a federal credit union headquartered in SILVER BAY, MN with 7 branch locations and about $266.39 million in total assets. Opened 57 years ago in 1967, NORTH SHORE FEDERAL CREDIT UNION has about 12,972 members and employs 63 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 |
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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: | 7 branch locations |
Members: | 12,972 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 18473 |
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Membership Type: | Community - Rural District |
Corporate Credit Union: | No |
Year Opened: | 1967 |
Last Audited: | Jun 01, 2023 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $266,393,814 |
CEO/Manager: | Cassie L Ernest |
Chairperson: | James L Lukken |
ASSETS: | $ Amount |
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Cash & Equivalents | 55,643,033 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 119,689,851 |
Unsecured Loans | 2,493,167 |
Other Loans | 71,273,974 |
TOTAL LOANS | 193,456,992 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -239,862 |
Land And Building | 3,189,287 |
Other Fixed Assets | 724,509 |
NCUSIF Deposit | 2,127,549 |
All Other Assets | 48,500 |
TOTAL ASSETS | 266,393,814 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 199,815 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 1,210,198 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 56,506,072 |
Regular shares | 63,980,569 |
All Other Shares & Deposits | 112,282,176 |
TOTAL SHARES & DEPOSITS | 232,768,816 |
TOTAL LIABILITIES | 234,178,829 |
Regular Reserve | 0 |
Other Reserves | 173,225 |
Undivided Earnings | 32,041,760 |
TOTAL EQUITY | 32,214,985 |
TOTAL LIABILITIES, SHARES, & EQUITY | 266,393,814 |
INCOME & EXPENSE | |
Loan Income | 8,682,382 |
Investment Income | 2,174,679 |
Other Income | 712,989 |
Total Employee Compensation & Benefits | 4,461,416 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 3,948,021 |
Non-operating Income & (Expense) | -26,003 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | -11,961 |
Cost of Funds | 2,716,730 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 1,604,914 |
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» See also Statement of Financial Condition