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National Credit Union Service Organization

ELM RIVER CREDIT UNION

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
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
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

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
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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