Jun, 30, 2024 — FINANCIAL ONE CREDIT UNION is a federally insured state chartered credit union headquartered in COLUMBIA HEIGHTS, MN with 3 branch locations and about $204.39 million in total assets. Opened 92 years ago in 1933, FINANCIAL ONE CREDIT UNION has about 10,242 members and employs 36 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | FINANCIAL ONE CREDIT UNION |
|---|---|
| Address: (Main Office) | 843 40th Ave NE COLUMBIA HEIGHTS, MN 55421 |
| Phone: | (763) 404-7600 |
| Fax: | (763) 404-7630 |
| Website: | https://financialonecu.com |
| Branches: | 3 branch locations |
| Members: | 10,242 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 64287 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1933 |
| Last Audited: | Sep 01, 2021 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $204,386,931 |
| CEO/Manager: | Ross V Bloomquist |
| Chairperson: | Kenneth Gauvin |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,407,918 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 44,635,674 |
| Unsecured Loans | 5,436,365 |
| Other Loans | 132,485,570 |
| TOTAL LOANS | 183,054,640 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,324,546 |
| Land And Building | 1,812,999 |
| Other Fixed Assets | 487,656 |
| NCUSIF Deposit | 1,685,133 |
| All Other Assets | 0 |
| TOTAL ASSETS | 204,386,931 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 18,175,867 |
| Accounts Payable & Other Liabilities | 3,211,409 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 42,336,952 |
| Regular shares | 56,570,046 |
| All Other Shares & Deposits | 68,125,622 |
| TOTAL SHARES & DEPOSITS | 167,032,620 |
| TOTAL LIABILITIES | 188,419,896 |
| Regular Reserve | 0 |
| Other Reserves | 293,625 |
| Undivided Earnings | 15,673,410 |
| TOTAL EQUITY | 15,967,035 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 204,386,931 |
| INCOME & EXPENSE | |
| Loan Income | 6,592,912 |
| Investment Income | 122,602 |
| Other Income | 726,782 |
| Total Employee Compensation & Benefits | 2,654,331 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 5,091,612 |
| Non-operating Income & (Expense) | -17,767 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 286,140 |
| Cost of Funds | 812,156 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -440,565 |
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