Dec, 31, 2023 — PROCTOR FEDERAL CREDIT UNION is a federal credit union headquartered in PROCTOR, MN with 2 branch locations and about $69.73 million in total assets. Opened 54 years ago in 1970, PROCTOR FEDERAL CREDIT UNION has about 7,420 members and employs 19 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | PROCTOR FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 410 N 2nd Ave PROCTOR, MN 55810-2206 |
| Phone: | (218) 624-5761 |
| Fax: | (218) 624-5762 |
| Website: | https://www.proctorfcu.com |
| Branches: | 2 branch locations |
| Members: | 7,420 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 19960 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1970 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $69,726,538 |
| CEO/Manager: | david horak |
| Chairperson: | dan rohweder |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 2,078,553 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 22,896,581 |
| Unsecured Loans | 553,677 |
| Other Loans | 34,806,920 |
| TOTAL LOANS | 58,257,178 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -60,809 |
| Land And Building | 399,700 |
| Other Fixed Assets | 194,253 |
| NCUSIF Deposit | 560,718 |
| All Other Assets | 0 |
| TOTAL ASSETS | 69,726,538 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 344,862 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 12,829,550 |
| Regular shares | 37,475,351 |
| All Other Shares & Deposits | 12,505,856 |
| TOTAL SHARES & DEPOSITS | 62,810,759 |
| TOTAL LIABILITIES | 63,155,621 |
| Regular Reserve | 0 |
| Other Reserves | 341,457 |
| Undivided Earnings | 6,229,460 |
| TOTAL EQUITY | 6,570,917 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 69,726,538 |
| INCOME & EXPENSE | |
| Loan Income | 2,120,339 |
| Investment Income | 284,838 |
| Other Income | 199,151 |
| Total Employee Compensation & Benefits | 1,264,662 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 938,125 |
| Non-operating Income & (Expense) | 4,946 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 12,500 |
| Cost of Funds | 35,732 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 665,840 |
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