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TORO EMPLOYEES FEDERAL CREDIT UNION

Mar, 31, 2021 — TORO EMPLOYEES FEDERAL CREDIT UNION is a federal credit union headquartered in Bloomington, MN with 1 branch location and about $35.69 million in total assets. Opened 47 years ago in 1974, TORO EMPLOYEES FEDERAL CREDIT UNION has about 3,149 members and employs 6 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: 291075103
Name:TORO EMPLOYEES FEDERAL CREDIT UNION
Address:
(Main Office)
8111 Lyndale Ave S
Bloomington, MN 55420
Phone:(952) 208-6441
Fax:(952) 948-4849
Website:http://www.torofcu.org
Branches:1 branch locations
Members:3,149
Credit Union Type:Federal Credit Union
Charter Number:21644
Membership Type:Manufacturing - Machinery
Corporate Credit Union:No
Year Opened:1974
Last Audited:Mar 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$35,692,955
CEO/Manager:Grant Johnson
Chairperson:Paul R Danielson

Call Report

  • Credit Builder
  • Indirect Mortgage Loans
  • Micro Consumer Loans
  • Overdraft Lines of Credit
  • Overdraft Protection
  • Real Estate Loans
  • Risk Based Loans
  • ATM/Debit Card Program
  • Check Cashing
  • Insurance/Investment Sales
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 5,396,646
TOTAL INVESTMENTS 5,013,333
Loans Held for Sale 0
 
 Real Estate Loans 11,864,586
 Unsecured Loans 1,295,023
 Other Loans 11,914,517
 TOTAL LOANS 25,074,126
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -191,056
 Land And Building 0
 Other Fixed Assets 38,443
 NCUSIF Deposit 256,186
 All Other Assets 105,277
  TOTAL ASSETS 35,692,955
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 209,348
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 4,200,117
 Regular shares 11,250,908
 All Other Shares & Deposits 15,630,873
  TOTAL SHARES & DEPOSITS 31,081,898
  TOTAL LIABILITIES 31,291,246
 Regular Reserve 482,209
 Other Reserves 0
 Undivided Earnings 3,919,500
  TOTAL EQUITY 4,401,709
  TOTAL LIABILITIES, SHARES, & EQUITY 35,692,955
INCOME & EXPENSE  
 Loan Income 295,070
 Investment Income 8,232
 Other Income 20,652
 Total Employee Compensation & Benefits 119,717
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 124,782
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 48,312
 Cost of Funds 31,795
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 16,731
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