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MINNESOTA POWER EMPLOYEES CREDIT UNION

Jun, 30, 2024 — MINNESOTA POWER EMPLOYEES CREDIT UNION is a federally insured state chartered credit union headquartered in DULUTH, MN with 3 branch locations and about $122.62 million in total assets. Opened 91 years ago in 1933, MINNESOTA POWER EMPLOYEES CREDIT UNION has about 5,419 members and employs 20 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: 291973755
Name:MINNESOTA POWER EMPLOYEES CREDIT UNION
Address:
(Main Office)
30 W Superior St Ste 126
DULUTH, MN 55802-2191
Phone:(218) 336-1800
Fax:(218) 336-1839
Website:https://www.mpecu.com
Branches:3 branch locations
Members:5,419
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:60377
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1933
Last Audited:Jun 01, 2022
FHLB Member:Yes
Low Income Designation:No
Assets:$122,624,060
CEO/Manager:Debora S Almirall
Chairperson:Michael French

Call Report

  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 15,717,866
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 33,185,299
 Unsecured Loans 2,547,198
 Other Loans 34,701,202
 TOTAL LOANS 70,433,699
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -331,457
 Land And Building 0
 Other Fixed Assets 74,229
 NCUSIF Deposit 1,009,001
 All Other Assets 0
  TOTAL ASSETS 122,624,060
LIABILITIES & CAPITAL:  
 Dividends Payable 89,438
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 214,472
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 21,695,795
 Regular shares 34,807,945
 All Other Shares & Deposits 52,419,572
  TOTAL SHARES & DEPOSITS 108,923,312
  TOTAL LIABILITIES 109,227,222
 Regular Reserve 0
 Other Reserves -4,839,578
 Undivided Earnings 18,236,416
  TOTAL EQUITY 13,396,838
  TOTAL LIABILITIES, SHARES, & EQUITY 122,624,060
INCOME & EXPENSE  
 Loan Income 2,086,252
 Investment Income 494,802
 Other Income 138,186
 Total Employee Compensation & Benefits 1,239,106
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 1,444,230
 Non-operating Income & (Expense) 15,910
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 105,843
 Cost of Funds 195,546
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 676,494
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