Dec, 31, 2023 — NORTH IOWA COMMUNITY CREDIT UNION is a federally insured state chartered credit union headquartered in MASON CITY, IA with 2 branch locations and about $117.59 million in total assets. Opened 68 years ago in 1956, NORTH IOWA COMMUNITY CREDIT UNION has about 11,470 members and employs 29 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | NORTH IOWA COMMUNITY CREDIT UNION |
|---|---|
| Address: (Main Office) | 640 S FEDERAL AVE MASON CITY, IA 50401 |
| Phone: | (641) 424-2281 |
| Fax: | (641) 424-6013 |
| Website: | https://www.niccu.com |
| Branches: | 2 branch locations |
| Members: | 11,470 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 64191 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1956 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $117,588,520 |
| CEO/Manager: | SCOTT J SHIPMAN |
| Chairperson: | MARK BROSZ |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 7,733,854 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 23,562,338 |
| Unsecured Loans | 1,486,071 |
| Other Loans | 79,882,118 |
| TOTAL LOANS | 105,011,505 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -409,484 |
| Land And Building | 1,752,895 |
| Other Fixed Assets | 264,634 |
| NCUSIF Deposit | 920,645 |
| All Other Assets | 15,000 |
| TOTAL ASSETS | 117,588,520 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 381 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 1,314,348 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 17,517,019 |
| Regular shares | 22,482,942 |
| All Other Shares & Deposits | 67,357,238 |
| TOTAL SHARES & DEPOSITS | 107,357,200 |
| TOTAL LIABILITIES | 108,671,929 |
| Regular Reserve | 0 |
| Other Reserves | 5,600,000 |
| Undivided Earnings | 3,316,591 |
| TOTAL EQUITY | 8,916,591 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 117,588,520 |
| INCOME & EXPENSE | |
| Loan Income | 5,598,649 |
| Investment Income | 273,767 |
| Other Income | 488,668 |
| Total Employee Compensation & Benefits | 2,185,121 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 2,144,863 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 166,338 |
| Cost of Funds | 1,790,226 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 772,647 |
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