Dec, 31, 2023 — SMW FINANCIAL CREDIT UNION is a federally insured state chartered credit union headquartered in LINO LAKES, MN with 2 branch locations and about $88.20 million in total assets. Opened 70 years ago in 1954, SMW FINANCIAL CREDIT UNION has about 5,423 members and employs 15 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | SMW FINANCIAL CREDIT UNION |
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Address: (Main Office) | 700 Apollo Dr LINO LAKES, MN 55014-3035 |
Phone: | (651) 747-1500 |
Fax: | (651) 747-1559 |
Website: | https://www.smwfcu.com |
Branches: | 2 branch locations |
Members: | 5,423 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 68676 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1954 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $88,199,977 |
CEO/Manager: | Erin McNamara |
Chairperson: | Michael Day |
ASSETS: | $ Amount |
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Cash & Equivalents | 5,966,254 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 30,517,499 |
Unsecured Loans | 2,008,604 |
Other Loans | 23,388,044 |
TOTAL LOANS | 56,796,462 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -352,667 |
Land And Building | 3,943,338 |
Other Fixed Assets | 124,902 |
NCUSIF Deposit | 772,193 |
All Other Assets | 0 |
TOTAL ASSETS | 88,199,977 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 178,606 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 26,268,768 |
Regular shares | 25,711,564 |
All Other Shares & Deposits | 27,730,220 |
TOTAL SHARES & DEPOSITS | 79,710,555 |
TOTAL LIABILITIES | 79,889,161 |
Regular Reserve | 0 |
Other Reserves | -936,289 |
Undivided Earnings | 9,247,105 |
TOTAL EQUITY | 8,310,816 |
TOTAL LIABILITIES, SHARES, & EQUITY | 88,199,977 |
INCOME & EXPENSE | |
Loan Income | 2,659,217 |
Investment Income | 695,728 |
Other Income | 417,988 |
Total Employee Compensation & Benefits | 1,369,386 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 1,736,292 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 34,230 |
Cost of Funds | 680,740 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 444,844 |
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