Dec, 31, 2023 — FIRST PACE CREDIT UNION is a federally insured state chartered credit union headquartered in WEST ST PAUL, MN with 1 branch location and about $9.53 million in total assets. Opened 61 years ago in 1963, FIRST PACE CREDIT UNION has about 967 members and employs 3 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | FIRST PACE CREDIT UNION |
|---|---|
| Address: (Main Office) | 161 Marie Ave E WEST ST PAUL, MN 55118-4004 |
| Phone: | (651) 451-8495 |
| Fax: | (651) 450-9978 |
| Website: | https://www.firstpacecu.com |
| Branches: | 1 branch locations |
| Members: | 967 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 64089 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1963 |
| Last Audited: | Jun 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $9,530,054 |
| CEO/Manager: | Chris Lamminen |
| Chairperson: | Daniel Gerten |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 145,661 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 1,092,304 |
| Unsecured Loans | 430,474 |
| Other Loans | 4,580,924 |
| TOTAL LOANS | 6,103,702 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -41,472 |
| Land And Building | 0 |
| Other Fixed Assets | 723 |
| NCUSIF Deposit | 90,289 |
| All Other Assets | 0 |
| TOTAL ASSETS | 9,530,054 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 46 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 61,656 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 716,834 |
| Regular shares | 5,036,161 |
| All Other Shares & Deposits | 1,899,898 |
| TOTAL SHARES & DEPOSITS | 7,652,893 |
| TOTAL LIABILITIES | 7,714,595 |
| Regular Reserve | 0 |
| Other Reserves | 226,491 |
| Undivided Earnings | 1,588,968 |
| TOTAL EQUITY | 1,815,459 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 9,530,054 |
| INCOME & EXPENSE | |
| Loan Income | 292,903 |
| Investment Income | 73,999 |
| Other Income | 12,710 |
| Total Employee Compensation & Benefits | 206,822 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 229,844 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
| Cost of Funds | 40,990 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -79,104 |
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