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HURON AREA EDUCATION FEDERAL CREDIT UNION

Dec, 31, 2020 — HURON AREA EDUCATION FEDERAL CREDIT UNION is a federal credit union headquartered in HURON, SD with 1 branch location and about $15.00 million in total assets. Opened 69 years ago in 1952, HURON AREA EDUCATION FEDERAL CREDIT UNION has about 997 members and employs 4 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:HURON AREA EDUCATION FEDERAL CREDIT UNION
Address:
(Main Office)
1855 ARIZONA AVE SW
HURON, SD 57350-6582
Phone:(605) 352-1311
Fax:(605) 352-2979
Website:http://huronareaeducationfcu.com
Branches:1 branch locations
Members:997
Credit Union Type:Federal Credit Union
Charter Number:7599
Membership Type:Educational
Corporate Credit Union:No
Year Opened:1952
Last Audited:Jun 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$15,003,303
CEO/Manager:KRISTEN JURGENS
Chairperson:Robert DeBoer

Call Report

  • Commercial Loans
  • Overdraft Lines of Credit
  • Real Estate Loans
  • Risk Based Loans
  • ATM/Debit Card Program
  • Check Cashing
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 476,238
TOTAL INVESTMENTS 6,306,000
Loans Held for Sale 0
 
 Real Estate Loans 3,566,335
 Unsecured Loans 1,134,104
 Other Loans 3,476,492
 TOTAL LOANS 8,176,931
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -273,104
 Land And Building 165,265
 Other Fixed Assets 7,956
 NCUSIF Deposit 124,284
 All Other Assets 19,733
  TOTAL ASSETS 15,003,303
LIABILITIES & CAPITAL:  
 Dividends Payable 6,605
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 23,789
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 1,838,254
 Regular shares 5,215,649
 All Other Shares & Deposits 6,597,955
  TOTAL SHARES & DEPOSITS 13,651,858
  TOTAL LIABILITIES 13,682,252
 Regular Reserve 354,983
 Other Reserves 0
 Undivided Earnings 966,068
  TOTAL EQUITY 1,321,051
  TOTAL LIABILITIES, SHARES, & EQUITY 15,003,303
INCOME & EXPENSE  
 Loan Income 415,474
 Investment Income 117,205
 Other Income 12,466
 Total Employee Compensation & Benefits 250,207
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 120,528
 Non-operating Income & (Expense) 35
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 80,611
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 93,834
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