Jun, 30, 2024 — M O FEDERAL CREDIT UNION is a federal credit union headquartered in HURON, SD with 2 branch locations and about $39.31 million in total assets. Opened 75 years ago in 1950, M O FEDERAL CREDIT UNION has about 1,789 members and employs 6 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | M O FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 1730 Dakota Ave S HURON, SD 57350 |
| Phone: | (605) 353-9977 |
| Fax: | (605) 353-1732 |
| Website: | https://m-ofcu.com |
| Branches: | 2 branch locations |
| Members: | 1,789 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 7020 |
|---|---|
| Membership Type: | Multiple common bond - Primarily federal, state, local government |
| Corporate Credit Union: | No |
| Year Opened: | 1950 |
| Last Audited: | Jun 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $39,312,693 |
| CEO/Manager: | Gail L Broer |
| Chairperson: | Ronald Russell |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,309,720 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 13,839,935 |
| Unsecured Loans | 1,128,520 |
| Other Loans | 8,563,677 |
| TOTAL LOANS | 23,532,132 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -71,932 |
| Land And Building | 405,359 |
| Other Fixed Assets | 13,619 |
| NCUSIF Deposit | 314,237 |
| All Other Assets | 0 |
| TOTAL ASSETS | 39,312,693 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 10,626 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 172,168 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 9,443,776 |
| Regular shares | 17,959,044 |
| All Other Shares & Deposits | 7,218,116 |
| TOTAL SHARES & DEPOSITS | 34,620,936 |
| TOTAL LIABILITIES | 34,803,730 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 4,508,963 |
| TOTAL EQUITY | 4,508,963 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 39,312,693 |
| INCOME & EXPENSE | |
| Loan Income | 568,602 |
| Investment Income | 101,506 |
| Other Income | 56,585 |
| Total Employee Compensation & Benefits | 430,732 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 228,687 |
| Non-operating Income & (Expense) | -748 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
| Cost of Funds | 46,792 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 105,498 |
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