Sep, 30, 2025 — FULDA AREA CREDIT UNION is a federally insured state chartered credit union headquartered in WORTHINGTON, MN with 5 branch locations and about $141.13 million in total assets. Opened 40 years ago in 1986, FULDA AREA CREDIT UNION has about 11,617 members and employs 44 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | FULDA AREA CREDIT UNION |
|---|---|
| Address: (Main Office) | 1127 Ryans Rd WORTHINGTON, MN 56187 |
| Phone: | (507) 372-5959 |
| Fax: | |
| Website: | https://www.leadingedgecu.org |
| Branches: | 5 branch locations |
| Members: | 11,617 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 66867 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1986 |
| Last Audited: | Sep 01, 2024 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $141,128,087 |
| CEO/Manager: | Chad Merrihew |
| Chairperson: | Randy Donahue |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 12,753,761 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 1,369,741 |
| Real Estate Loans | 61,703,102 |
| Unsecured Loans | 4,875,336 |
| Other Loans | 39,980,080 |
| TOTAL LOANS | 106,558,518 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -512,444 |
| Land And Building | 4,284,091 |
| Other Fixed Assets | 695,108 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 1,174,870 |
| All Other Assets | 0 |
| TOTAL ASSETS | 141,128,087 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 426,352 |
| Notes & Interest Payable | 3,000,000 |
| Accounts Payable & Other Liabilities | 1,703,867 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 23,100,168 |
| Regular shares | 23,208,268 |
| All Other Shares & Deposits | 77,427,491 |
| TOTAL SHARES & DEPOSITS | 123,735,927 |
| TOTAL LIABILITIES | 128,866,146 |
| Regular Reserve | 0 |
| Other Reserves | 619,479 |
| Undivided Earnings | 11,642,462 |
| TOTAL EQUITY | 12,261,941 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 141,128,087 |
| INCOME & EXPENSE | |
| Loan Income | 4,979,437 |
| Investment Income | 719,914 |
| Other Income | 1,036,710 |
| Total Employee Compensation & Benefits | 2,113,710 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 2,471,003 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 267,000 |
| Cost of Funds | 2,227,511 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 388,469 |
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