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MINNESOTA VALLEY FEDERAL CREDIT UNION

Mar, 31, 2021 — MINNESOTA VALLEY FEDERAL CREDIT UNION is a federal credit union headquartered in Mankato, MN with 3 branch locations and about $241.81 million in total assets. Opened 87 years ago in 1934, MINNESOTA VALLEY FEDERAL CREDIT UNION has about 16,071 members and employs 35 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 291981255
Name:MINNESOTA VALLEY FEDERAL CREDIT UNION
Address:
(Main Office)
PO Box 4399
Mankato, MN 56002
Phone:(507) 387-3055
Fax:(507) 387-5235
Website:http://www.mnvalleyfcu.coop
Branches:3 branch locations
Members:16,071
Credit Union Type:Federal Credit Union
Charter Number:19440
Membership Type:Community credit unions, urban or rural, other than those designated 'low income'
Corporate Credit Union:No
Year Opened:1934
Last Audited:Mar 01, 2021
FHLB Member:Yes
Low Income Designation:No
Assets:$241,810,822
CEO/Manager:Nick S Meyer
Chairperson:Steve L Erdman

Call Report

  • Commercial Loans
  • Indirect Consumer Loans
  • Micro Business Loans
  • Micro Consumer Loans
  • Overdraft Lines of Credit
  • Pay Day Loans
  • Real Estate Loans
  • Risk Based Loans
  • Share Secured Credit Cards
  • Payday Alternative Loans (PAL Loans)
  • ATM/Debit Card Program
  • Commercial Share Accounts
  • Check Cashing
  • First Time Homebuyer Program
  • Health Savings Accounts
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 19,779,098
TOTAL INVESTMENTS 104,685,731
Loans Held for Sale 1,172,015
 
 Real Estate Loans 56,421,545
 Unsecured Loans 2,108,109
 Other Loans 52,139,307
 TOTAL LOANS 110,668,961
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -718,483
 Land And Building 1,183,694
 Other Fixed Assets 535,024
 NCUSIF Deposit 1,823,276
 All Other Assets 2,681,506
  TOTAL ASSETS 241,810,822
LIABILITIES & CAPITAL:  
 Dividends Payable 105,852
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 485,516
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 47,054,390
 Regular shares 64,155,358
 All Other Shares & Deposits 106,546,377
  TOTAL SHARES & DEPOSITS 217,756,125
  TOTAL LIABILITIES 218,347,493
 Regular Reserve 876,944
 Other Reserves 207,981
 Undivided Earnings 22,378,404
  TOTAL EQUITY 23,463,329
  TOTAL LIABILITIES, SHARES, & EQUITY 241,810,822
INCOME & EXPENSE  
 Loan Income 1,127,385
 Investment Income 312,146
 Other Income 235,813
 Total Employee Compensation & Benefits 634,962
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 760,286
 Non-operating Income & (Expense) 712,641
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 50,195
 Cost of Funds 226,104
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 1,431,318
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