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.
Name: | MINNESOTA POWER EMPLOYEES CREDIT UNION |
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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 |
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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 |
ASSETS: | $ Amount |
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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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