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MINERVA AREA FEDERAL CREDIT UNION

Mar, 31, 2021 — MINERVA AREA FEDERAL CREDIT UNION is a federal credit union headquartered in Minerva, OH with 2 branch locations and about $12.65 million in total assets. Opened 50 years ago in 1971, MINERVA AREA FEDERAL CREDIT UNION has about 2,277 members and employs 9 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:MINERVA AREA FEDERAL CREDIT UNION
Address:
(Main Office)
3570 Union Ave Se
Minerva, OH 44657
Phone:(330) 868-7080
Fax:(330) 868-6338
Website:http://www.minervacreditunion.com
Branches:2 branch locations
Members:2,277
Credit Union Type:Federal Credit Union
Charter Number:20622
Membership Type:Community credit unions, urban or rural, other than those designated 'low income'
Corporate Credit Union:No
Year Opened:1971
Last Audited:Jun 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$12,653,456
CEO/Manager:Jane S Yankovich
Chairperson:W. Fred Edwards

Call Report

  • Overdraft Protection
  • Risk Based Loans
  • ATM/Debit Card Program
  • Check Cashing
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 5,413,093
TOTAL INVESTMENTS 878,651
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 346,133
 Other Loans 5,840,519
 TOTAL LOANS 6,186,652
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -123,773
 Land And Building 180,472
 Other Fixed Assets 31,934
 NCUSIF Deposit 76,526
 All Other Assets 9,901
  TOTAL ASSETS 12,653,456
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 23,705
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 2,043,076
 Regular shares 8,400,891
 All Other Shares & Deposits 862,344
  TOTAL SHARES & DEPOSITS 11,306,311
  TOTAL LIABILITIES 11,330,016
 Regular Reserve 118,212
 Other Reserves 0
 Undivided Earnings 1,205,228
  TOTAL EQUITY 1,323,440
  TOTAL LIABILITIES, SHARES, & EQUITY 12,653,456
INCOME & EXPENSE  
 Loan Income 125,240
 Investment Income 3,936
 Other Income 50,793
 Total Employee Compensation & Benefits 77,399
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 57,427
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 5,947
 Cost of Funds 3,281
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 35,915
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