Dec, 31, 2023 — EMPLOYEES CREDIT UNION is a federally insured state chartered credit union headquartered in ESTHERVILLE, IA with 1 branch location and about $158.63 million in total assets. Opened 77 years ago in 1947, EMPLOYEES CREDIT UNION has about 8,808 members and employs 14 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | EMPLOYEES CREDIT UNION |
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Address: (Main Office) | 2714 Central Ave ESTHERVILLE, IA 51334 |
Phone: | (712) 362-5897 |
Fax: | (712) 362-2243 |
Website: | https://www.employeescu.com |
Branches: | 1 branch locations |
Members: | 8,808 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 63299 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1947 |
Last Audited: | Sep 01, 2023 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $158,633,797 |
CEO/Manager: | Mark Peters |
Chairperson: | Charlie Nourse |
ASSETS: | $ Amount |
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Cash & Equivalents | 5,014,808 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 22,376,414 |
Unsecured Loans | 10,959,737 |
Other Loans | 54,647,260 |
TOTAL LOANS | 87,983,411 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -987,443 |
Land And Building | 503,436 |
Other Fixed Assets | 100,183 |
NCUSIF Deposit | 1,118,756 |
All Other Assets | 0 |
TOTAL ASSETS | 158,633,797 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 77,545 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 593,997 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 13,880,924 |
Regular shares | 9,856,208 |
All Other Shares & Deposits | 102,040,489 |
TOTAL SHARES & DEPOSITS | 125,777,621 |
TOTAL LIABILITIES | 126,449,163 |
Regular Reserve | 0 |
Other Reserves | 2,581,644 |
Undivided Earnings | 29,602,990 |
TOTAL EQUITY | 32,184,634 |
TOTAL LIABILITIES, SHARES, & EQUITY | 158,633,797 |
INCOME & EXPENSE | |
Loan Income | 5,508,886 |
Investment Income | 2,613,375 |
Other Income | 637,538 |
Total Employee Compensation & Benefits | 1,432,479 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 943,827 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 470,515 |
Cost of Funds | 4,126,182 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 1,999,526 |
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» See also Statement of Financial Condition