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MID MINNESOTA FEDERAL CREDIT UNION

Mar, 31, 2021 — MID MINNESOTA FEDERAL CREDIT UNION is a federal credit union headquartered in BAXTER, MN with 10 branch locations and about $564.65 million in total assets. Opened 51 years ago in 1970, MID MINNESOTA FEDERAL CREDIT UNION has about 50,249 members and employs 148 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: 291973360
Name:MID MINNESOTA FEDERAL CREDIT UNION
Address:
(Main Office)
PO BOX 2907
BAXTER, MN 56425-6607
Phone:(218) 829-0371
Fax:(218) 822-2455
Website:http://www.mmfcu.org
Branches:10 branch locations
Members:50,249
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, 2020
FHLB Member:Yes
Low Income Designation:No
Assets:$564,645,610
CEO/Manager:Charles D Albrecht
Chairperson:Theresa Goble

Call Report

  • Commercial Loans
  • Credit Builder
  • Indirect Commercial Loans
  • Indirect Consumer Loans
  • Interest Only or Payment Option 1st Mortgage Loans
  • Micro Business Loans
  • Micro Consumer Loans
  • Overdraft Lines of Credit
  • Overdraft Protection
  • Participation Loans
  • Real Estate Loans
  • Refund Anticipation Loans
  • Risk Based Loans
  • ATM/Debit Card Program
  • Commercial Share Accounts
  • Check Cashing
  • Health Savings Accounts
  • Insurance/Investment Sales
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 105,500,891
TOTAL INVESTMENTS 12,931,089
Loans Held for Sale 4,697,972
 
 Real Estate Loans 115,547,562
 Unsecured Loans 18,781,921
 Other Loans 274,543,447
 TOTAL LOANS 408,872,930
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -1,767,109
 Land And Building 15,693,590
 Other Fixed Assets 2,192,688
 NCUSIF Deposit 4,098,939
 All Other Assets 12,424,620
  TOTAL ASSETS 564,645,610
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 8,658,809
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 66,224,102
 Regular shares 292,701,670
 All Other Shares & Deposits 151,580,521
  TOTAL SHARES & DEPOSITS 510,506,293
  TOTAL LIABILITIES 519,165,102
 Regular Reserve 3,288,625
 Other Reserves 24,368
 Undivided Earnings 42,167,515
  TOTAL EQUITY 45,480,508
  TOTAL LIABILITIES, SHARES, & EQUITY 564,645,610
INCOME & EXPENSE  
 Loan Income 4,687,898
 Investment Income 39,688
 Other Income 1,095,842
 Total Employee Compensation & Benefits 3,377,504
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 2,273,776
 Non-operating Income & (Expense) -7,135
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 165,000
 Cost of Funds 528,833
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 1,798,429
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