Dec, 31, 2023 — CO-OP CREDIT UNION OF MONTEVIDEO is a federally insured state chartered credit union headquartered in MONTEVIDEO, MN with 4 branch locations and about $359.05 million in total assets. Opened 84 years ago in 1940, CO-OP CREDIT UNION OF MONTEVIDEO has about 16,779 members and employs 52 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | CO-OP CREDIT UNION OF MONTEVIDEO |
|---|---|
| Address: (Main Office) | 2407 E Highway 7 MONTEVIDEO, MN 56265-3151 |
| Phone: | (320) 269-2117 |
| Fax: | (320) 269-2118 |
| Website: | https://www.co-opcreditunion.com |
| Branches: | 4 branch locations |
| Members: | 16,779 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 62419 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1940 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $359,049,095 |
| CEO/Manager: | Kayla Reiffenberger |
| Chairperson: | Jason French |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 11,670,791 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 428,000 |
| Real Estate Loans | 101,733,777 |
| Unsecured Loans | 2,468,219 |
| Other Loans | 127,769,234 |
| TOTAL LOANS | 233,806,666 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -4,662,944 |
| Land And Building | 6,127,381 |
| Other Fixed Assets | 553,895 |
| NCUSIF Deposit | 2,805,811 |
| All Other Assets | 64,870 |
| TOTAL ASSETS | 359,049,095 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 5,628,408 |
| Accounts Payable & Other Liabilities | 2,982,855 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 72,207,486 |
| Regular shares | 106,232,990 |
| All Other Shares & Deposits | 120,470,976 |
| TOTAL SHARES & DEPOSITS | 298,911,452 |
| TOTAL LIABILITIES | 307,522,715 |
| Regular Reserve | 0 |
| Other Reserves | 33,650 |
| Undivided Earnings | 51,492,730 |
| TOTAL EQUITY | 51,526,380 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 359,049,095 |
| INCOME & EXPENSE | |
| Loan Income | 12,117,552 |
| Investment Income | 2,368,720 |
| Other Income | 703,362 |
| Total Employee Compensation & Benefits | 4,227,972 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 3,606,613 |
| Non-operating Income & (Expense) | -5,924 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 554,286 |
| Cost of Funds | 4,314,275 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 4,251,007 |
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