DIVERSIFIED CREDIT UNION is no longer an active credit union according to the NCUA. If available, you can view their website at https://www.diversifiedcu.org for more information.
Dec, 31, 2023 — DIVERSIFIED CREDIT UNION is a federally insured state chartered credit union headquartered in MINNEAPOLIS, MN with 2 branch locations and about $41.85 million in total assets. Opened 94 years ago in 1930, DIVERSIFIED CREDIT UNION has about 2,892 members and employs 9 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | DIVERSIFIED CREDIT UNION |
|---|---|
| Address: (Main Office) | 700 LINDEN AVE W MINNEAPOLIS, MN 55403 |
| Phone: | (612) 321-5300 |
| Fax: | (612) 321-5297 |
| Website: | https://www.diversifiedcu.org |
| Branches: | 2 branch locations |
| Members: | 2,892 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 61726 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1930 |
| Last Audited: | Aug 01, 2020 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $41,852,773 |
| CEO/Manager: | Scott A Pentila |
| Chairperson: | paul miller |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 10,558,757 |
| TOTAL INVESTMENTS | 56,671 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 7,094,601 |
| Unsecured Loans | 1,182,279 |
| Other Loans | 23,417,703 |
| TOTAL LOANS | 31,694,583 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -504,067 |
| Land And Building | 0 |
| Other Fixed Assets | 30,307 |
| NCUSIF Deposit | 311,406 |
| All Other Assets | -294,884 |
| TOTAL ASSETS | 41,852,773 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 1,624 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 37,227 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 8,354,239 |
| Regular shares | 13,963,298 |
| All Other Shares & Deposits | 16,569,253 |
| TOTAL SHARES & DEPOSITS | 38,886,790 |
| TOTAL LIABILITIES | 38,925,641 |
| Regular Reserve | 606,973 |
| Other Reserves | 0 |
| Undivided Earnings | 2,320,159 |
| TOTAL EQUITY | 2,927,132 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 41,852,773 |
| INCOME & EXPENSE | |
| Loan Income | 504,786 |
| Investment Income | 3,086 |
| Other Income | 29,715 |
| Total Employee Compensation & Benefits | 447,980 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 767,332 |
| Non-operating Income & (Expense) | 55,953 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 93,100 |
| Cost of Funds | 39,390 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -760,400 |
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