Dec, 31, 2022 — 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 83 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 |
| 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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