Sep, 30, 2025 — MID MINNESOTA FEDERAL CREDIT UNION is a federal credit union headquartered in BAXTER, MN with 12 branch locations and about $800.73 million in total assets. Opened 56 years ago in 1970, MID MINNESOTA FEDERAL CREDIT UNION has about 66,504 members and employs 180 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | MID MINNESOTA FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 13283 Isle Dr BAXTER, MN 56425-8554 |
| Phone: | (218) 829-0371 |
| Fax: | (218) 822-2455 |
| Website: | https://www.mmfcu.org |
| Branches: | 12 branch locations |
| Members: | 66,504 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 20194 |
|---|---|
| Membership Type: | Community - Rural District |
| Corporate Credit Union: | No |
| Year Opened: | 1970 |
| Last Audited: | Dec 01, 2024 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $800,733,198 |
| CEO/Manager: | Bob Gerads |
| Chairperson: | Greg Lange |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 33,842,202 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 1,754,802 |
| Real Estate Loans | 174,731,607 |
| Unsecured Loans | 25,568,207 |
| Other Loans | 446,993,250 |
| TOTAL LOANS | 660,642,753 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -4,127,221 |
| Land And Building | 21,031,257 |
| Other Fixed Assets | 2,177,779 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 6,414,416 |
| All Other Assets | 1,214,168 |
| TOTAL ASSETS | 800,733,198 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 138 |
| Notes & Interest Payable | 15,000,000 |
| Accounts Payable & Other Liabilities | 8,885,545 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 336,879,574 |
| Regular shares | 96,970,518 |
| All Other Shares & Deposits | 269,939,593 |
| TOTAL SHARES & DEPOSITS | 703,789,685 |
| TOTAL LIABILITIES | 727,679,383 |
| Regular Reserve | 0 |
| Other Reserves | 3,098,776 |
| Undivided Earnings | 69,955,039 |
| TOTAL EQUITY | 73,053,815 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 800,733,198 |
| INCOME & EXPENSE | |
| Loan Income | 28,226,135 |
| Investment Income | 2,625,431 |
| Other Income | 4,051,252 |
| Total Employee Compensation & Benefits | 14,721,152 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 10,809,992 |
| Non-operating Income & (Expense) | 34,950 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 2,408,964 |
| Cost of Funds | 8,130,010 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 4,949,182 |
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