Dec, 31, 2023 — UNITED EMPLOYEES CREDIT UNION is a federally insured state chartered credit union headquartered in ALBERT LEA, MN with 1 branch location and about $57.60 million in total assets. Opened 92 years ago in 1932, UNITED EMPLOYEES CREDIT UNION has about 4,138 members and employs 8 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | UNITED EMPLOYEES CREDIT UNION |
|---|---|
| Address: (Main Office) | 430 Bridge Ave ALBERT LEA, MN 56007 |
| Phone: | (507) 377-1616 |
| Fax: | (507) 377-8907 |
| Website: | https://www.unitedecu.com |
| Branches: | 1 branch locations |
| Members: | 4,138 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 60263 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1932 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $57,604,303 |
| CEO/Manager: | Matt Maras |
| Chairperson: | C. Thayne Nordland |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,476,447 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 3,427,977 |
| Unsecured Loans | 471,411 |
| Other Loans | 23,036,137 |
| TOTAL LOANS | 26,935,525 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -53,975 |
| Land And Building | 122,673 |
| Other Fixed Assets | 24,273 |
| NCUSIF Deposit | 483,224 |
| All Other Assets | 0 |
| TOTAL ASSETS | 57,604,303 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 323,612 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 41,881 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 6,141,066 |
| Regular shares | 18,718,285 |
| All Other Shares & Deposits | 24,992,618 |
| TOTAL SHARES & DEPOSITS | 49,851,969 |
| TOTAL LIABILITIES | 50,217,462 |
| Regular Reserve | 0 |
| Other Reserves | 792,130 |
| Undivided Earnings | 6,594,711 |
| TOTAL EQUITY | 7,386,841 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 57,604,303 |
| INCOME & EXPENSE | |
| Loan Income | 1,204,088 |
| Investment Income | 736,079 |
| Other Income | 107,638 |
| Total Employee Compensation & Benefits | 574,918 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 384,138 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 3,000 |
| Cost of Funds | 634,111 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 481,380 |
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