Dec, 31, 2023 — EMPLOYEES CREDIT UNION is a federally insured state chartered credit union headquartered in ESTHERVILLE, IA with 1 branch location and about $158.63 million in total assets. Opened 77 years ago in 1947, EMPLOYEES CREDIT UNION has about 8,808 members and employs 14 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | EMPLOYEES CREDIT UNION |
|---|---|
| Address: (Main Office) | 2714 Central Ave ESTHERVILLE, IA 51334 |
| Phone: | (712) 362-5897 |
| Fax: | (712) 362-2243 |
| Website: | https://www.employeescu.com |
| Branches: | 1 branch locations |
| Members: | 8,808 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 63299 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1947 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $158,633,797 |
| CEO/Manager: | Mark Peters |
| Chairperson: | Charlie Nourse |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 5,014,808 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 22,376,414 |
| Unsecured Loans | 10,959,737 |
| Other Loans | 54,647,260 |
| TOTAL LOANS | 87,983,411 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -987,443 |
| Land And Building | 503,436 |
| Other Fixed Assets | 100,183 |
| NCUSIF Deposit | 1,118,756 |
| All Other Assets | 0 |
| TOTAL ASSETS | 158,633,797 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 77,545 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 593,997 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 13,880,924 |
| Regular shares | 9,856,208 |
| All Other Shares & Deposits | 102,040,489 |
| TOTAL SHARES & DEPOSITS | 125,777,621 |
| TOTAL LIABILITIES | 126,449,163 |
| Regular Reserve | 0 |
| Other Reserves | 2,581,644 |
| Undivided Earnings | 29,602,990 |
| TOTAL EQUITY | 32,184,634 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 158,633,797 |
| INCOME & EXPENSE | |
| Loan Income | 5,508,886 |
| Investment Income | 2,613,375 |
| Other Income | 637,538 |
| Total Employee Compensation & Benefits | 1,432,479 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 943,827 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 470,515 |
| Cost of Funds | 4,126,182 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,999,526 |
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