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SMW FINANCIAL CREDIT UNION

Jun, 30, 2023 — SMW FINANCIAL CREDIT UNION is a federally insured state chartered credit union headquartered in LINO LAKES, MN with 2 branch locations and about $92.81 million in total assets. Opened 70 years ago in 1954, SMW FINANCIAL CREDIT UNION has about 5,412 members and employs 16 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: 296076204
Name:SMW FINANCIAL CREDIT UNION
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:5,412
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:68676
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1954
Last Audited:Dec 01, 2021
FHLB Member:Yes
Low Income Designation:No
Assets:$92,814,103
CEO/Manager:Erin McNamara
Chairperson:Michael Day

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 10,269,564
TOTAL INVESTMENTS 0
Loans Held for Sale 203,000
 
 Real Estate Loans 29,594,705
 Unsecured Loans 1,777,093
 Other Loans 23,752,548
 TOTAL LOANS 55,783,562
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -354,789
 Land And Building 3,403,860
 Other Fixed Assets 152,418
 NCUSIF Deposit 819,820
 All Other Assets 0
  TOTAL ASSETS 92,814,103
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 93,781
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 32,162,500
 Regular shares 31,905,233
 All Other Shares & Deposits 21,381,205
  TOTAL SHARES & DEPOSITS 85,448,938
  TOTAL LIABILITIES 85,542,719
 Regular Reserve 0
 Other Reserves -1,381,599
 Undivided Earnings 8,652,983
  TOTAL EQUITY 7,271,384
  TOTAL LIABILITIES, SHARES, & EQUITY 92,814,103
INCOME & EXPENSE  
 Loan Income 1,579,319
 Investment Income 325,899
 Other Income 347,557
 Total Employee Compensation & Benefits 1,116,571
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 1,319,977
 Non-operating Income & (Expense) 3,138
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 43,472
 Cost of Funds 164,899
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 221,884
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