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National Credit Union Service Organization

NOVATION CREDIT UNION

Mar, 31, 2022 — NOVATION CREDIT UNION is a federally insured state chartered credit union headquartered in OAKDALE, MN with 4 branch locations and about $232.73 million in total assets. Opened 68 years ago in 1954, NOVATION CREDIT UNION has about 16,610 members and employs 32 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:16,610
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, 2021
FHLB Member:Yes
Low Income Designation:No
Assets:$232,725,421
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 36,849,211
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 60,350,842
 Unsecured Loans 18,183,273
 Other Loans 74,882,065
 TOTAL LOANS 153,416,180
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -414,981
 Land And Building 1,711,983
 Other Fixed Assets 719,469
 NCUSIF Deposit 1,851,325
 All Other Assets 14,104
  TOTAL ASSETS 232,725,421
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 635,032
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 69,737,944
 Regular shares 76,261,139
 All Other Shares & Deposits 69,027,666
  TOTAL SHARES & DEPOSITS 215,026,749
  TOTAL LIABILITIES 215,661,781
 Regular Reserve 0
 Other Reserves 1,928,379
 Undivided Earnings 15,135,261
  TOTAL EQUITY 17,063,640
  TOTAL LIABILITIES, SHARES, & EQUITY 232,725,421
INCOME & EXPENSE  
 Loan Income 1,332,869
 Investment Income 66,448
 Other Income 86,985
 Total Employee Compensation & Benefits 831,936
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 844,114
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 13,393
 Cost of Funds 77,505
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 352,087
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