Dec, 31, 2023 — LATVIAN CREDIT UNION is a federally insured state chartered credit union headquartered in MINNEAPOLIS, MN with 1 branch location and about $5.50 million in total assets. Opened 59 years ago in 1965, LATVIAN CREDIT UNION has about 719 members offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | LATVIAN CREDIT UNION |
|---|---|
| Address: (Main Office) | 3152 17th Ave S MINNEAPOLIS, MN 55407 |
| Phone: | (612) 722-5004 |
| Fax: | (612) 722-0174 |
| Website: | https://www.latviancu.com |
| Branches: | 1 branch locations |
| Members: | 719 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 63891 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1965 |
| Last Audited: | Mar 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $5,495,731 |
| CEO/Manager: | Santa Kalnite |
| Chairperson: | Peter E Grotans |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 523,479 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 943,827 |
| Unsecured Loans | 108,113 |
| Other Loans | 3,479,374 |
| TOTAL LOANS | 4,531,313 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -21,718 |
| Land And Building | 0 |
| Other Fixed Assets | 0 |
| NCUSIF Deposit | 45,433 |
| All Other Assets | 0 |
| TOTAL ASSETS | 5,495,731 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 10,098 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 24,280 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 531,502 |
| Regular shares | 2,535,662 |
| All Other Shares & Deposits | 1,822,201 |
| TOTAL SHARES & DEPOSITS | 4,889,365 |
| TOTAL LIABILITIES | 4,923,743 |
| Regular Reserve | 0 |
| Other Reserves | 81,504 |
| Undivided Earnings | 490,484 |
| TOTAL EQUITY | 571,988 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 5,495,731 |
| INCOME & EXPENSE | |
| Loan Income | 261,774 |
| Investment Income | 19,423 |
| Other Income | 20,067 |
| Total Employee Compensation & Benefits | 137,046 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 118,275 |
| Non-operating Income & (Expense) | 1,508 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 13,924 |
| Cost of Funds | 31,164 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 2,971 |
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» See also Statement of Financial Condition