Sep, 30, 2025 — IDEAL CREDIT UNION is a federally insured state chartered credit union headquartered in WOODBURY, MN with 6 branch locations and about $1.09 billion in total assets. Opened 100 years ago in 1926, IDEAL CREDIT UNION has about 49,087 members and employs 167 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | IDEAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 8499 Tamarack Rd WOODBURY, MN 55125-9201 |
| Phone: | (651) 770-7000 |
| Fax: | (651) 747-8939 |
| Website: | https://www.idealcu.com |
| Branches: | 6 branch locations |
| Members: | 49,087 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 62978 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1926 |
| Last Audited: | Dec 01, 2024 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $1,090,349,730 |
| CEO/Manager: | Brian G Sherrick |
| Chairperson: | Peter Olsen |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 119,034,865 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 5,656,502 |
| Real Estate Loans | 436,477,393 |
| Unsecured Loans | 36,773,251 |
| Other Loans | 401,668,658 |
| TOTAL LOANS | 874,944,093 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -8,361,465 |
| Land And Building | 16,366,666 |
| Other Fixed Assets | 2,097,013 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 8,249,510 |
| All Other Assets | 430,637 |
| TOTAL ASSETS | 1,090,349,730 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 22,571 |
| Notes & Interest Payable | 50,775,000 |
| Accounts Payable & Other Liabilities | 12,977,498 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 157,709,553 |
| Regular shares | 353,784,415 |
| All Other Shares & Deposits | 402,800,251 |
| TOTAL SHARES & DEPOSITS | 914,294,218 |
| TOTAL LIABILITIES | 978,131,497 |
| Regular Reserve | 0 |
| Other Reserves | 50,346 |
| Undivided Earnings | 112,167,887 |
| TOTAL EQUITY | 112,218,233 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 1,090,349,730 |
| INCOME & EXPENSE | |
| Loan Income | 36,260,591 |
| Investment Income | 5,054,112 |
| Other Income | 4,235,370 |
| Total Employee Compensation & Benefits | 15,687,599 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 12,507,136 |
| Non-operating Income & (Expense) | -229,609 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 4,135,717 |
| Cost of Funds | 14,845,005 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 2,872,745 |
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