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 |
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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 |
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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 |
ASSETS: | $ Amount |
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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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