GEM FEDERAL CREDIT UNION is no longer an active credit union according to the NCUA. If available, you can view their website at https://gemcu.org for more information.
Sep, 30, 2025 — GEM FEDERAL CREDIT UNION is a federal credit union headquartered in MINOT, ND with 1 branch location and about $35.56 million in total assets. Opened 86 years ago in 1940, GEM FEDERAL CREDIT UNION has about 1,871 members and employs 6 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | GEM FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | PO BOX 1606 MINOT, ND 58702 |
| Phone: | (701) 852-3866 |
| Fax: | (701) 852-4311 |
| Website: | https://gemcu.org |
| Branches: | 1 branch locations |
| Members: | 1,871 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 3660 |
|---|---|
| Membership Type: | Multiple common bond - Primarily federal, state, local government |
| Corporate Credit Union: | No |
| Year Opened: | 1940 |
| Last Audited: | Jun 01, 2021 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $35,559,774 |
| CEO/Manager: | KIM M COLBENSON |
| Chairperson: | DAVID LAKEFIELD |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 7,407,411 |
| TOTAL INVESTMENTS | 12,695,000 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 3,089,748 |
| Unsecured Loans | 1,002,748 |
| Other Loans | 10,456,831 |
| TOTAL LOANS | 14,549,327 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -130,000 |
| Land And Building | 686,481 |
| Other Fixed Assets | 6,099 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 286,867 |
| All Other Assets | 58,589 |
| TOTAL ASSETS | 35,559,774 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 85,193 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 5,971,375 |
| Regular shares | 15,255,656 |
| All Other Shares & Deposits | 11,395,329 |
| TOTAL SHARES & DEPOSITS | 32,622,360 |
| TOTAL LIABILITIES | 32,707,553 |
| Regular Reserve | 397,707 |
| Other Reserves | 0 |
| Undivided Earnings | 2,454,514 |
| TOTAL EQUITY | 2,852,221 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 35,559,774 |
| INCOME & EXPENSE | |
| Loan Income | 581,700 |
| Investment Income | 212,439 |
| Other Income | 99,527 |
| Total Employee Compensation & Benefits | 465,225 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 376,922 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | -19,142 |
| Cost of Funds | 46,611 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 149,100 |
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