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CO-OP CREDIT UNION OF MONTEVIDEO

Jun, 30, 2023 — CO-OP CREDIT UNION OF MONTEVIDEO is a federally insured state chartered credit union headquartered in MONTEVIDEO, MN with 4 branch locations and about $360.21 million in total assets. Opened 84 years ago in 1940, CO-OP CREDIT UNION OF MONTEVIDEO has about 15,987 members and employs 49 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:CO-OP CREDIT UNION OF MONTEVIDEO
Address:
(Main Office)
2407 E Highway 7
MONTEVIDEO, MN 56265-3151
Phone:(320) 269-2117
Fax:(320) 269-2118
Website:https://www.co-opcreditunion.com
Branches:4 branch locations
Members:15,987
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:62419
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1940
Last Audited:Sep 01, 2021
FHLB Member:Yes
Low Income Designation:No
Assets:$360,208,657
CEO/Manager:Kayla Reiffenberger
Chairperson:Jason French

Call Report

  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 19,452,716
TOTAL INVESTMENTS 0
Loans Held for Sale 427,125
 
 Real Estate Loans 81,797,379
 Unsecured Loans 2,302,426
 Other Loans 117,191,648
 TOTAL LOANS 203,993,331
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -4,226,178
 Land And Building 6,242,795
 Other Fixed Assets 604,136
 NCUSIF Deposit 2,663,779
 All Other Assets 5,800
  TOTAL ASSETS 360,208,657
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 3,530,563
 Accounts Payable & Other Liabilities 2,830,298
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 71,694,218
 Regular shares 137,759,986
 All Other Shares & Deposits 97,933,513
  TOTAL SHARES & DEPOSITS 307,387,717
  TOTAL LIABILITIES 313,748,578
 Regular Reserve 0
 Other Reserves 33,650
 Undivided Earnings 46,426,429
  TOTAL EQUITY 46,460,079
  TOTAL LIABILITIES, SHARES, & EQUITY 360,208,657
INCOME & EXPENSE  
 Loan Income 6,517,829
 Investment Income 1,036,091
 Other Income 955,398
 Total Employee Compensation & Benefits 2,723,879
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 2,392,436
 Non-operating Income & (Expense) 2,458
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 330,209
 Cost of Funds 936,380
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 3,666,515
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