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MINERVA AREA FEDERAL CREDIT UNION

Dec, 31, 2023 — MINERVA AREA FEDERAL CREDIT UNION is a federal credit union headquartered in MINERVA, OH with 2 branch locations and about $13.58 million in total assets. Opened 53 years ago in 1971, MINERVA AREA FEDERAL CREDIT UNION has about 2,508 members and employs 11 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:https://www.minervacreditunion.com
Branches:2 branch locations
Members:2,508
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, 2023
FHLB Member:No
Low Income Designation:No
Assets:$13,581,780
CEO/Manager:Jane S Yankovich
Chairperson:Jack E Polen

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 1,722,901
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 414,700
 Other Loans 7,966,647
 TOTAL LOANS 8,381,347
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -178,248
 Land And Building 209,305
 Other Fixed Assets 9,082
 NCUSIF Deposit 113,040
 All Other Assets 69,710
  TOTAL ASSETS 13,581,780
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 48,534
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 2,261,415
 Regular shares 7,844,944
 All Other Shares & Deposits 1,429,538
  TOTAL SHARES & DEPOSITS 11,535,897
  TOTAL LIABILITIES 11,584,431
 Regular Reserve 0
 Other Reserves 0
 Undivided Earnings 1,997,349
  TOTAL EQUITY 1,997,349
  TOTAL LIABILITIES, SHARES, & EQUITY 13,581,780
INCOME & EXPENSE  
 Loan Income 718,902
 Investment Income 144,355
 Other Income 257,577
 Total Employee Compensation & Benefits 391,628
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 266,172
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 54,898
 Cost of Funds 46,192
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 361,944
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