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OTTER TAIL CREDIT UNION

Mar, 31, 2021 — OTTER TAIL CREDIT UNION is a federally insured state chartered credit union headquartered in FERGUS FALLS, MN with 1 branch location and about $16.47 million in total assets. Opened 67 years ago in 1954, OTTER TAIL CREDIT UNION has about 2,281 members and employs 3 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:OTTER TAIL CREDIT UNION
Address:
(Main Office)
413 W STANTON AVE
FERGUS FALLS, MN 56537-2505
Phone:(218) 736-5528
Fax:(218) 736-7753
Website:http://www.ottertailcreditunion.com
Branches:1 branch locations
Members:2,281
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:64343
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1954
Last Audited:Mar 01, 2019
FHLB Member:No
Low Income Designation:No
Assets:$16,465,402
CEO/Manager:David R West
Chairperson:Jeffrey S McKeever

Call Report

  • Commercial Loans
  • Micro Business Loans
  • Micro Consumer Loans
  • Overdraft Lines of Credit
  • Participation Loans
  • Real Estate Loans
  • ATM/Debit Card Program
  • Commercial Share Accounts
  • Check Cashing
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 5,059,641
TOTAL INVESTMENTS 5,450,857
Loans Held for Sale 0
 
 Real Estate Loans 539,431
 Unsecured Loans 249,065
 Other Loans 4,758,123
 TOTAL LOANS 5,546,619
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -26,699
 Land And Building 225,034
 Other Fixed Assets 36,253
 NCUSIF Deposit 121,671
 All Other Assets 52,026
  TOTAL ASSETS 16,465,402
LIABILITIES & CAPITAL:  
 Dividends Payable 3,777
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 18,587
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 2,166,757
 Regular shares 5,547,436
 All Other Shares & Deposits 7,255,630
  TOTAL SHARES & DEPOSITS 14,969,823
  TOTAL LIABILITIES 14,992,187
 Regular Reserve 389,325
 Other Reserves 255,933
 Undivided Earnings 827,957
  TOTAL EQUITY 1,473,215
  TOTAL LIABILITIES, SHARES, & EQUITY 16,465,402
INCOME & EXPENSE  
 Loan Income 50,493
 Investment Income 14,259
 Other Income 904
 Total Employee Compensation & Benefits 38,317
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 33,087
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 5,633
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 17,351
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