Dec, 31, 2023 — STERLING FEDERAL CREDIT UNION is a federal credit union headquartered in STERLING, CO with 2 branch locations and about $218.74 million in total assets. Opened 86 years ago in 1938, STERLING FEDERAL CREDIT UNION has about 9,884 members and employs 26 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | STERLING FEDERAL CREDIT UNION |
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Address: (Main Office) | 822 W Main St STERLING, CO 80751 |
Phone: | (970) 522-0111 |
Fax: | (970) 522-2614 |
Website: | https://www.sterlingcreditunion.org |
Branches: | 2 branch locations |
Members: | 9,884 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 2840 |
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Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
Corporate Credit Union: | No |
Year Opened: | 1938 |
Last Audited: | Jun 01, 2023 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $218,744,228 |
CEO/Manager: | Darrin Blankenbeckler |
Chairperson: | Randy Bang |
ASSETS: | $ Amount |
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Cash & Equivalents | 23,820,769 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 40,243,396 |
Unsecured Loans | 245,636 |
Other Loans | 42,884,823 |
TOTAL LOANS | 84,585,807 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -80,528 |
Land And Building | 1,841,330 |
Other Fixed Assets | 151,375 |
NCUSIF Deposit | 1,671,330 |
All Other Assets | 0 |
TOTAL ASSETS | 218,744,228 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 2,148,666 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 25,494,942 |
Regular shares | 134,509,260 |
All Other Shares & Deposits | 21,736,900 |
TOTAL SHARES & DEPOSITS | 181,741,100 |
TOTAL LIABILITIES | 183,889,766 |
Regular Reserve | 0 |
Other Reserves | 46,430 |
Undivided Earnings | 34,808,032 |
TOTAL EQUITY | 34,854,462 |
TOTAL LIABILITIES, SHARES, & EQUITY | 218,744,228 |
INCOME & EXPENSE | |
Loan Income | 3,784,596 |
Investment Income | 3,498,883 |
Other Income | 386,312 |
Total Employee Compensation & Benefits | 1,860,796 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 1,652,576 |
Non-operating Income & (Expense) | 1,995 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
Cost of Funds | 2,910,476 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 2,104,292 |
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» See also Statement of Financial Condition