Dec, 31, 2023 — AREA COMMUNITY CREDIT UNION is a federally insured state chartered credit union headquartered in GRAND FORKS, ND with 2 branch locations and about $25.99 million in total assets. Opened 60 years ago in 1964, AREA COMMUNITY CREDIT UNION has about 2,028 members and employs 8 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | AREA COMMUNITY CREDIT UNION |
|---|---|
| Address: (Main Office) | 2800 S Washington St GRAND FORKS, ND 58201 |
| Phone: | (701) 772-2690 |
| Fax: | (701) 775-4253 |
| Website: | https://www.gfaccu.com |
| Branches: | 2 branch locations |
| Members: | 2,028 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 64294 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1964 |
| Last Audited: | Jun 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $25,994,691 |
| CEO/Manager: | Connie Johnston |
| Chairperson: | Joe Campos Jr |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 3,303,594 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 5,468,592 |
| Unsecured Loans | 387,407 |
| Other Loans | 12,266,152 |
| TOTAL LOANS | 18,122,151 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -202,259 |
| Land And Building | 218,776 |
| Other Fixed Assets | 35,776 |
| NCUSIF Deposit | 195,577 |
| All Other Assets | 57,775 |
| TOTAL ASSETS | 25,994,691 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 61,379 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 191,299 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 3,600,782 |
| Regular shares | 6,838,828 |
| All Other Shares & Deposits | 10,128,288 |
| TOTAL SHARES & DEPOSITS | 20,567,898 |
| TOTAL LIABILITIES | 20,820,576 |
| Regular Reserve | 0 |
| Other Reserves | 355,340 |
| Undivided Earnings | 4,818,775 |
| TOTAL EQUITY | 5,174,115 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 25,994,691 |
| INCOME & EXPENSE | |
| Loan Income | 993,427 |
| Investment Income | 153,603 |
| Other Income | 250,392 |
| Total Employee Compensation & Benefits | 599,111 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 623,620 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 30,000 |
| Cost of Funds | 94,099 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 61,547 |
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