Dec, 31, 2023 — HOME TOWN FEDERAL CREDIT UNION is a federal credit union headquartered in OWATONNA, MN with 4 branch locations and about $273.12 million in total assets. Opened 50 years ago in 1974, HOME TOWN FEDERAL CREDIT UNION has about 23,692 members and employs 56 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | HOME TOWN FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 2400 W Bridge St OWATONNA, MN 55060-5003 |
| Phone: | (507) 451-3798 |
| Fax: | (507) 446-8113 |
| Website: | https://www.hometowncu.coop |
| Branches: | 4 branch locations |
| Members: | 23,692 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 21669 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1974 |
| Last Audited: | Mar 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $273,117,986 |
| CEO/Manager: | Kimberly S Westphal |
| Chairperson: | Nicole Schulz |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 12,057,654 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 46,491,942 |
| Unsecured Loans | 8,573,264 |
| Other Loans | 150,369,561 |
| TOTAL LOANS | 205,434,767 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -713,000 |
| Land And Building | 8,438,701 |
| Other Fixed Assets | 756,810 |
| NCUSIF Deposit | 2,349,903 |
| All Other Assets | 5,532 |
| TOTAL ASSETS | 273,117,986 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 8,000,000 |
| Accounts Payable & Other Liabilities | 3,810,057 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 52,587,776 |
| Regular shares | 76,729,135 |
| All Other Shares & Deposits | 111,248,161 |
| TOTAL SHARES & DEPOSITS | 240,565,071 |
| TOTAL LIABILITIES | 252,375,128 |
| Regular Reserve | 0 |
| Other Reserves | -3,790,126 |
| Undivided Earnings | 24,532,984 |
| TOTAL EQUITY | 20,742,858 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 273,117,986 |
| INCOME & EXPENSE | |
| Loan Income | 9,031,209 |
| Investment Income | 1,277,904 |
| Other Income | 1,027,032 |
| Total Employee Compensation & Benefits | 4,009,101 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 5,498,169 |
| Non-operating Income & (Expense) | 10,528 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 939,216 |
| Cost of Funds | 2,526,657 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 437,427 |
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