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ACE CREDIT UNION

Dec, 31, 2023 — ACE CREDIT UNION is a federally insured state chartered credit union headquartered in MASON CITY, IA with 1 branch location and about $7.10 million in total assets. Opened 90 years ago in 1934, ACE CREDIT UNION has about 805 members offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:ACE CREDIT UNION
Address:
(Main Office)
1028 14th St SE
MASON CITY, IA 50401-6955
Phone:(641) 424-6330
Fax:(641) 424-6330
Website:n/a
Branches:1 branch locations
Members:805
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:64323
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1934
Last Audited:May 01, 2023
FHLB Member:No
Low Income Designation:No
Assets:$7,100,774
CEO/Manager:Ellen M Kay
Chairperson:Kathy Grove

Call Report

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 2,037,872
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 670,003
 Unsecured Loans 105,369
 Other Loans 1,670,671
 TOTAL LOANS 2,446,043
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -40,423
 Land And Building 0
 Other Fixed Assets 0
 NCUSIF Deposit 67,282
 All Other Assets 0
  TOTAL ASSETS 7,100,774
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 4,249
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 0
 Regular shares 5,733,576
 All Other Shares & Deposits 0
  TOTAL SHARES & DEPOSITS 5,733,576
  TOTAL LIABILITIES 5,737,825
 Regular Reserve 0
 Other Reserves 91,827
 Undivided Earnings 1,271,122
  TOTAL EQUITY 1,362,949
  TOTAL LIABILITIES, SHARES, & EQUITY 7,100,774
INCOME & EXPENSE  
 Loan Income 94,466
 Investment Income 172,250
 Other Income 460
 Total Employee Compensation & Benefits 66,975
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 56,721
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 800
 Cost of Funds 60,329
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 95,943
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