Dec, 31, 2023 — BLACK HILLS FEDERAL CREDIT UNION is a federal credit union headquartered in RAPID CITY, SD with 17 branch locations and about $2.32 billion in total assets. Opened 83 years ago in 1941, BLACK HILLS FEDERAL CREDIT UNION has about 99,736 members and employs 419 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | BLACK HILLS FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 2700 N Plaza Dr RAPID CITY, SD 57702-9303 |
| Phone: | (605) 343-0891 |
| Fax: | (605) 718-6146 |
| Website: | https://www.blackhillsfcu.org |
| Branches: | 17 branch locations |
| Members: | 99,736 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 4365 |
|---|---|
| Membership Type: | Community - Rural District |
| Corporate Credit Union: | No |
| Year Opened: | 1941 |
| Last Audited: | Jun 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $2,316,737,774 |
| CEO/Manager: | Jerry Schmidt |
| Chairperson: | Jason Green |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 105,428,522 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 2,662,640 |
| Real Estate Loans | 1,036,330,559 |
| Unsecured Loans | 63,902,170 |
| Other Loans | 606,237,188 |
| TOTAL LOANS | 1,706,754,029 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -9,621,592 |
| Land And Building | 70,636,260 |
| Other Fixed Assets | 6,489,220 |
| NCUSIF Deposit | 15,739,008 |
| All Other Assets | 936,089 |
| TOTAL ASSETS | 2,316,737,774 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 200,000,000 |
| Accounts Payable & Other Liabilities | 27,282,862 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 386,911,351 |
| Regular shares | 240,424,706 |
| All Other Shares & Deposits | 1,276,775,231 |
| TOTAL SHARES & DEPOSITS | 1,904,111,288 |
| TOTAL LIABILITIES | 2,131,394,150 |
| Regular Reserve | 0 |
| Other Reserves | -38,920,710 |
| Undivided Earnings | 224,264,334 |
| TOTAL EQUITY | 185,343,624 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 2,316,737,774 |
| INCOME & EXPENSE | |
| Loan Income | 81,343,896 |
| Investment Income | 14,736,410 |
| Other Income | 8,700,788 |
| Total Employee Compensation & Benefits | 38,185,145 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 29,554,625 |
| Non-operating Income & (Expense) | 471,303 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 4,493,513 |
| Cost of Funds | 36,334,674 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 15,522,229 |
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