Sep, 30, 2025 — RED LAKE CO OP FEDERAL CREDIT UNION is a federal credit union headquartered in RED LAKE FALLS, MN with 1 branch location and about $6.75 million in total assets. Opened 77 years ago in 1949, RED LAKE CO OP FEDERAL CREDIT UNION has about 1,430 members and employs 3 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | RED LAKE CO OP FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 111 2nd St SW RED LAKE FALLS, MN 56750-4015 |
| Phone: | (218) 253-2775 |
| Fax: | (218) 253-4958 |
| Website: | https://www.redlakecfcu.com |
| Branches: | 1 branch locations |
| Members: | 1,430 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 6144 |
|---|---|
| Membership Type: | Associational - Other than religious or fraternal, or 'low-income' |
| Corporate Credit Union: | No |
| Year Opened: | 1949 |
| Last Audited: | Dec 01, 2024 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $6,748,044 |
| CEO/Manager: | Sara K Kenfield |
| Chairperson: | Joel Q Lehrer |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 182,586 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 428,879 |
| Unsecured Loans | 7,635 |
| Other Loans | 4,029,350 |
| TOTAL LOANS | 4,465,864 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -11,032 |
| Land And Building | 52,181 |
| Other Fixed Assets | 13,503 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 55,324 |
| All Other Assets | 0 |
| TOTAL ASSETS | 6,748,044 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 122,124 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 841,744 |
| Regular shares | 4,889,633 |
| All Other Shares & Deposits | 0 |
| TOTAL SHARES & DEPOSITS | 5,731,377 |
| TOTAL LIABILITIES | 5,853,501 |
| Regular Reserve | 0 |
| Other Reserves | 114,579 |
| Undivided Earnings | 779,964 |
| TOTAL EQUITY | 894,543 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 6,748,044 |
| INCOME & EXPENSE | |
| Loan Income | 175,764 |
| Investment Income | 57,831 |
| Other Income | 8,549 |
| Total Employee Compensation & Benefits | 98,037 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 106,637 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
| Cost of Funds | 27,291 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 26,570 |
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