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TRADES & LABOR FEDERAL CREDIT UNION

Jun, 30, 2023 — 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.


ABA Routing Number: 291973153
Name:TRADES & LABOR FEDERAL CREDIT UNION
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
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

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
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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