Dec, 31, 2023 — FEDERATED EMPLOYEES CREDIT UNION is a federally insured state chartered credit union headquartered in OWATONNA, MN with 2 branch locations and about $56.18 million in total assets. Opened 90 years ago in 1934, FEDERATED EMPLOYEES CREDIT UNION has about 4,901 members and employs 9 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | FEDERATED EMPLOYEES CREDIT UNION |
|---|---|
| Address: (Main Office) | 1929 S Cedar Ave OWATONNA, MN 55060-4301 |
| Phone: | (507) 455-5200 |
| Fax: | (507) 455-8827 |
| Website: | https://www.fedecu.com |
| Branches: | 2 branch locations |
| Members: | 4,901 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 64703 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1934 |
| Last Audited: | Mar 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $56,183,540 |
| CEO/Manager: | Annette M Arndt |
| Chairperson: | John Hylle |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 3,123,695 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 6,608,367 |
| Unsecured Loans | 1,930,065 |
| Other Loans | 26,442,262 |
| TOTAL LOANS | 34,980,694 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -75,000 |
| Land And Building | 0 |
| Other Fixed Assets | 41,334 |
| NCUSIF Deposit | 503,613 |
| All Other Assets | 0 |
| TOTAL ASSETS | 56,183,540 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 157,566 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 3,705,616 |
| Regular shares | 17,472,505 |
| All Other Shares & Deposits | 26,984,985 |
| TOTAL SHARES & DEPOSITS | 48,163,106 |
| TOTAL LIABILITIES | 48,320,672 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 7,862,868 |
| TOTAL EQUITY | 7,862,868 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 56,183,540 |
| INCOME & EXPENSE | |
| Loan Income | 1,581,124 |
| Investment Income | 386,009 |
| Other Income | 32,045 |
| Total Employee Compensation & Benefits | 615,014 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 628,957 |
| Non-operating Income & (Expense) | 104,096 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | -7,971 |
| Cost of Funds | 804,574 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 216,292 |
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