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National Credit Union Service Organization

NOVATION CREDIT UNION

Jun, 30, 2021 — NOVATION CREDIT UNION is a federally insured state chartered credit union headquartered in OAKDALE, MN with 4 branch locations and about $208.54 million in total assets. Opened 67 years ago in 1954, NOVATION CREDIT UNION has about 16,283 members and employs 30 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 296076068
Name:NOVATION CREDIT UNION
Address:
(Main Office)
500 IMPERIAL AVE N
OAKDALE, MN 55128-7151
Phone:(651) 739-8080
Fax:(651) 739-0648
Website:http://www.novation.org
Branches:4 branch locations
Members:16,283
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:65063
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1954
Last Audited:Sep 01, 2020
FHLB Member:Yes
Low Income Designation:No
Assets:$208,543,293
CEO/Manager:KRISTI MUKOMELA
Chairperson:Mike Kronebusch

Call Report

  • First Time Homebuyer Program
  • International Remittances

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 36,955,894
TOTAL INVESTMENTS 18,647,105
Loans Held for Sale 931,750
 
 Real Estate Loans 55,788,398
 Unsecured Loans 18,544,011
 Other Loans 69,406,643
 TOTAL LOANS 143,739,052
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -409,101
 Land And Building 1,603,104
 Other Fixed Assets 575,090
 NCUSIF Deposit 1,718,223
 All Other Assets 4,782,176
  TOTAL ASSETS 208,543,293
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 719,108
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 63,949,505
 Regular shares 65,219,770
 All Other Shares & Deposits 63,026,252
  TOTAL SHARES & DEPOSITS 192,195,527
  TOTAL LIABILITIES 192,914,635
 Regular Reserve 2,056,350
 Other Reserves 0
 Undivided Earnings 13,572,308
  TOTAL EQUITY 15,628,658
  TOTAL LIABILITIES, SHARES, & EQUITY 208,543,293
INCOME & EXPENSE  
 Loan Income 2,619,884
 Investment Income 66,158
 Other Income 147,517
 Total Employee Compensation & Benefits 1,451,023
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 1,483,376
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 9,842
 Cost of Funds 173,695
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 1,102,570
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