Jun, 30, 2024 — TRADES & LABOR FEDERAL CREDIT UNION is a federal credit union headquartered in ALBERT LEA, MN with 1 branch location and about $18.61 million in total assets. Opened 66 years ago in 1958, TRADES & LABOR FEDERAL CREDIT UNION has about 2,280 members and employs 7 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | TRADES & LABOR FEDERAL CREDIT UNION |
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Address: (Main Office) | 610 S BROADWAY AVE ALBERT LEA, MN 56007-4526 |
Phone: | (507) 377-1863 |
Fax: | (507) 377-0116 |
Website: | https://www.tradesandlabor.com |
Branches: | 1 branch locations |
Members: | 2,280 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 24674 |
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Membership Type: | Multiple common bond - Primarily finance, insurance, real estate, trade |
Corporate Credit Union: | No |
Year Opened: | 1958 |
Last Audited: | Mar 01, 2022 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $18,605,950 |
CEO/Manager: | Peggy L Manges |
Chairperson: | PAUL NIELSEN |
ASSETS: | $ Amount |
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Cash & Equivalents | 3,739,349 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 1,775,187 |
Unsecured Loans | 1,898,482 |
Other Loans | 9,689,070 |
TOTAL LOANS | 13,362,739 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -80,417 |
Land And Building | 133,692 |
Other Fixed Assets | 29,286 |
NCUSIF Deposit | 154,061 |
All Other Assets | 0 |
TOTAL ASSETS | 18,605,950 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 11,932 |
Notes & Interest Payable | 107,174 |
Accounts Payable & Other Liabilities | 15,090 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 3,279,659 |
Regular shares | 10,685,953 |
All Other Shares & Deposits | 2,338,670 |
TOTAL SHARES & DEPOSITS | 16,304,282 |
TOTAL LIABILITIES | 16,438,478 |
Regular Reserve | 0 |
Other Reserves | 0 |
Undivided Earnings | 2,167,472 |
TOTAL EQUITY | 2,167,472 |
TOTAL LIABILITIES, SHARES, & EQUITY | 18,605,950 |
INCOME & EXPENSE | |
Loan Income | 467,614 |
Investment Income | 29,045 |
Other Income | 240,429 |
Total Employee Compensation & Benefits | 247,203 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 265,411 |
Non-operating Income & (Expense) | 9,000 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 64,762 |
Cost of Funds | 25,238 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 143,474 |
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