Jun, 30, 2024 — DEER RIVER COOPERATIVE CREDIT UNION is a federally insured state chartered credit union headquartered in DEER RIVER, MN with 1 branch location and about $26.97 million in total assets. Opened 87 years ago in 1938, DEER RIVER COOPERATIVE CREDIT UNION has about 2,050 members and employs 5 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | DEER RIVER COOPERATIVE CREDIT UNION |
|---|---|
| Address: (Main Office) | 51 2ND ST SE DEER RIVER, MN 56636 |
| Phone: | (218) 246-8777 |
| Fax: | (218) 246-9731 |
| Website: | https://drccu.com |
| Branches: | 1 branch locations |
| Members: | 2,050 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 60388 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1938 |
| Last Audited: | Sep 01, 2021 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $26,966,962 |
| CEO/Manager: | MARY GOGGLEYE |
| Chairperson: | CHARLES ISAACS |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 935,213 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 12,392,290 |
| Unsecured Loans | 164,840 |
| Other Loans | 5,685,896 |
| TOTAL LOANS | 18,243,026 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -37,414 |
| Land And Building | 280,540 |
| Other Fixed Assets | 82,577 |
| NCUSIF Deposit | 233,391 |
| All Other Assets | 0 |
| TOTAL ASSETS | 26,966,962 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 33,078 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 5,451,488 |
| Regular shares | 18,024,838 |
| All Other Shares & Deposits | 930,057 |
| TOTAL SHARES & DEPOSITS | 24,406,383 |
| TOTAL LIABILITIES | 24,439,461 |
| Regular Reserve | 0 |
| Other Reserves | 416,704 |
| Undivided Earnings | 2,110,797 |
| TOTAL EQUITY | 2,527,501 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 26,966,962 |
| INCOME & EXPENSE | |
| Loan Income | 531,622 |
| Investment Income | 55,175 |
| Other Income | 56,526 |
| Total Employee Compensation & Benefits | 245,256 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 223,004 |
| Non-operating Income & (Expense) | 26,901 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
| Cost of Funds | 39,641 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 162,323 |
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