Dec, 31, 2023 — TRANSIT OPERATIONS FEDERAL CREDIT UNION is a federal credit union headquartered in MINNEAPOLIS, MN with 1 branch location and about $4.17 million in total assets. Opened 88 years ago in 1936, TRANSIT OPERATIONS FEDERAL CREDIT UNION has about 628 members offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | TRANSIT OPERATIONS FEDERAL CREDIT UNION |
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Address: (Main Office) | 725 N 7TH ST MINNEAPOLIS, MN 55411 |
Phone: | (612) 338-9985 |
Fax: | |
Website: | https://tofcu.org |
Branches: | 1 branch locations |
Members: | 628 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 24539 |
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Membership Type: | Multiple common bond - Primarily transportation |
Corporate Credit Union: | No |
Year Opened: | 1936 |
Last Audited: | Dec 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $4,170,488 |
CEO/Manager: | JoAnn M Schultz |
Chairperson: | Traci Williamson |
ASSETS: | $ Amount |
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Cash & Equivalents | 1,131,072 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 0 |
Unsecured Loans | 230,005 |
Other Loans | 1,489,708 |
TOTAL LOANS | 1,719,713 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -74,480 |
Land And Building | 0 |
Other Fixed Assets | 1,343 |
NCUSIF Deposit | 35,534 |
All Other Assets | 0 |
TOTAL ASSETS | 4,170,488 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 1,987 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 667 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 534,336 |
Regular shares | 2,613,016 |
All Other Shares & Deposits | 320,733 |
TOTAL SHARES & DEPOSITS | 3,468,085 |
TOTAL LIABILITIES | 3,470,739 |
Regular Reserve | 0 |
Other Reserves | 0 |
Undivided Earnings | 699,749 |
TOTAL EQUITY | 699,749 |
TOTAL LIABILITIES, SHARES, & EQUITY | 4,170,488 |
INCOME & EXPENSE | |
Loan Income | 138,110 |
Investment Income | 52,531 |
Other Income | 31,856 |
Total Employee Compensation & Benefits | 93,874 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 82,731 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 45,560 |
Cost of Funds | 7,315 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | -1,540 |
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» See also Statement of Financial Condition