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National Credit Union Service Organization

NOVATION CREDIT UNION

Jun, 30, 2023 — NOVATION CREDIT UNION is a federally insured state chartered credit union headquartered in OAKDALE, MN with 4 branch locations and about $228.12 million in total assets. Opened 70 years ago in 1954, NOVATION CREDIT UNION has about 16,812 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:https://www.novation.org
Branches:4 branch locations
Members:16,812
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:$228,115,546
CEO/Manager:KRISTI MUKOMELA
Chairperson:Dawn McGinley

Call Report

  • First Time Homebuyer Program
  • International Remittances

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 17,768,244
TOTAL INVESTMENTS 0
Loans Held for Sale 296,000
 
 Real Estate Loans 64,884,821
 Unsecured Loans 19,094,539
 Other Loans 80,006,327
 TOTAL LOANS 163,985,687
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -446,629
 Land And Building 1,657,856
 Other Fixed Assets 691,697
 NCUSIF Deposit 1,925,994
 All Other Assets 0
  TOTAL ASSETS 228,115,546
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 727,604
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 69,092,815
 Regular shares 72,949,654
 All Other Shares & Deposits 67,887,290
  TOTAL SHARES & DEPOSITS 209,929,759
  TOTAL LIABILITIES 210,657,363
 Regular Reserve 0
 Other Reserves 1,243,201
 Undivided Earnings 16,214,982
  TOTAL EQUITY 17,458,183
  TOTAL LIABILITIES, SHARES, & EQUITY 228,115,546
INCOME & EXPENSE  
 Loan Income 4,161,376
 Investment Income 456,286
 Other Income 272,335
 Total Employee Compensation & Benefits 2,495,757
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 2,551,164
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 74,049
 Cost of Funds 247,819
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 1,431,810
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