ELM RIVER CREDIT UNION is no longer an active credit union according to the NCUA. If available, you can view their website at https://elmriver.org for more information.
Dec, 31, 2023 — ELM RIVER CREDIT UNION is a federally insured state chartered credit union headquartered in KINDRED, ND with 2 branch locations and about $33.84 million in total assets. Opened 70 years ago in 1954, ELM RIVER CREDIT UNION has about 1,372 members and employs 6 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | ELM RIVER CREDIT UNION |
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Address: (Main Office) | ELM RIVER CREDIT UNION, 120 SPRUCE KINDRED, ND 58051 |
Phone: | (701) 428-9111 |
Fax: | (701) 428-9112 |
Website: | https://elmriver.org |
Branches: | 2 branch locations |
Members: | 1,372 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 64444 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1954 |
Last Audited: | Jun 01, 2021 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $33,835,086 |
CEO/Manager: | Erin E Olstad |
Chairperson: | Randy S Cramer |
ASSETS: | $ Amount |
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Cash & Equivalents | 14,759,650 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 8,057,147 |
Unsecured Loans | 102,309 |
Other Loans | 10,344,433 |
TOTAL LOANS | 18,503,889 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -132,537 |
Land And Building | 203,233 |
Other Fixed Assets | 28,475 |
NCUSIF Deposit | 233,904 |
All Other Assets | 238,472 |
TOTAL ASSETS | 33,835,086 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 18,380 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 69,830 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 7,608,810 |
Regular shares | 1,237,284 |
All Other Shares & Deposits | 20,665,981 |
TOTAL SHARES & DEPOSITS | 29,512,075 |
TOTAL LIABILITIES | 29,600,285 |
Regular Reserve | 256,974 |
Other Reserves | 0 |
Undivided Earnings | 3,977,827 |
TOTAL EQUITY | 4,234,801 |
TOTAL LIABILITIES, SHARES, & EQUITY | 33,835,086 |
INCOME & EXPENSE | |
Loan Income | 794,017 |
Investment Income | 13,750 |
Other Income | 201,814 |
Total Employee Compensation & Benefits | 486,138 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 315,774 |
Non-operating Income & (Expense) | 157,035 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
Cost of Funds | 53,101 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 311,720 |
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