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National Credit Union Service Organization

LATVIAN CREDIT UNION

Mar, 31, 2021 — LATVIAN CREDIT UNION is a federally insured state chartered credit union headquartered in MINNEAPOLIS, MN with 1 branch location and about $5.38 million in total assets. Opened 56 years ago in 1965, LATVIAN CREDIT UNION has about 680 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:680
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:Feb 01, 2021
FHLB Member:No
Low Income Designation:No
Assets:$5,383,280
CEO/Manager:Santa Kalnite
Chairperson:Michael Giga

Call Report

  • Credit Builder
  • Indirect Consumer Loans
  • Real Estate Loans
  • Risk Based Loans
  • ATM/Debit Card Program
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 1,140,973
TOTAL INVESTMENTS 15,000
Loans Held for Sale 0
 
 Real Estate Loans 1,025,416
 Unsecured Loans 124,189
 Other Loans 3,053,598
 TOTAL LOANS 4,203,203
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -27,725
 Land And Building 0
 Other Fixed Assets 0
 NCUSIF Deposit 41,603
 All Other Assets 10,226
  TOTAL ASSETS 5,383,280
LIABILITIES & CAPITAL:  
 Dividends Payable 6,707
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities -449
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 263,838
 Regular shares 2,424,180
 All Other Shares & Deposits 2,118,420
  TOTAL SHARES & DEPOSITS 4,806,438
  TOTAL LIABILITIES 4,812,696
 Regular Reserve 81,504
 Other Reserves 0
 Undivided Earnings 489,080
  TOTAL EQUITY 570,584
  TOTAL LIABILITIES, SHARES, & EQUITY 5,383,280
INCOME & EXPENSE  
 Loan Income 55,924
 Investment Income 222
 Other Income 2,872
 Total Employee Compensation & Benefits 32,953
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 21,156
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense -129
 Cost of Funds 8,739
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -3,701
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