Dec, 31, 2023 — NORTH WESTERN EMPLOYEES CREDIT UNION is a federally insured state chartered credit union headquartered in COUNCIL BLUFFS, IA with 1 branch location and about $9.83 million in total assets. Opened 83 years ago in 1941, NORTH WESTERN EMPLOYEES CREDIT UNION has about 1,230 members offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | NORTH WESTERN EMPLOYEES CREDIT UNION |
|---|---|
| Address: (Main Office) | 1411 W Broadway COUNCIL BLUFFS, IA 51501-3922 |
| Phone: | (712) 328-2787 |
| Fax: | (712) 328-9236 |
| Website: | https://www.nwecu.org |
| Branches: | 1 branch locations |
| Members: | 1,230 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 64282 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1941 |
| Last Audited: | Oct 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $9,826,854 |
| CEO/Manager: | Mary P Siek |
| Chairperson: | Dillard Avey |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 3,293,187 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 371,464 |
| Other Loans | 4,673,775 |
| TOTAL LOANS | 5,045,239 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -43,940 |
| Land And Building | 0 |
| Other Fixed Assets | 505 |
| NCUSIF Deposit | 76,213 |
| All Other Assets | 0 |
| TOTAL ASSETS | 9,826,854 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 10,197 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 10,976 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 893,749 |
| Regular shares | 4,038,833 |
| All Other Shares & Deposits | 2,960,779 |
| TOTAL SHARES & DEPOSITS | 7,893,361 |
| TOTAL LIABILITIES | 7,914,534 |
| Regular Reserve | 0 |
| Other Reserves | 275,000 |
| Undivided Earnings | 1,637,320 |
| TOTAL EQUITY | 1,912,320 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 9,826,854 |
| INCOME & EXPENSE | |
| Loan Income | 325,648 |
| Investment Income | 155,107 |
| Other Income | 58,515 |
| Total Employee Compensation & Benefits | 144,119 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 231,796 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 6,300 |
| Cost of Funds | 85,233 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 112,335 |
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