Dec, 31, 2023 — HIBBING COOPERATIVE CREDIT UNION is a federally insured state chartered credit union headquartered in HIBBING, MN with 1 branch location and about $105.09 million in total assets. Opened 86 years ago in 1938, HIBBING COOPERATIVE CREDIT UNION has about 8,386 members and employs 10 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | HIBBING COOPERATIVE CREDIT UNION |
|---|---|
| Address: (Main Office) | 217 W 42nd St HIBBING, MN 55746 |
| Phone: | (218) 263-8815 |
| Fax: | (218) 263-5078 |
| Website: | https://www.hccu.net |
| Branches: | 1 branch locations |
| Members: | 8,386 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 60164 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1938 |
| Last Audited: | Jun 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $105,089,806 |
| CEO/Manager: | Waylon T Vitters |
| Chairperson: | Gary S Kangas |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 4,691,713 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 6,496,537 |
| Unsecured Loans | 1,037,704 |
| Other Loans | 24,211,654 |
| TOTAL LOANS | 31,745,895 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -178,311 |
| Land And Building | 27,000 |
| Other Fixed Assets | 26,063 |
| NCUSIF Deposit | 937,798 |
| All Other Assets | 0 |
| TOTAL ASSETS | 105,089,806 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 121 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 312,976 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 19,725,088 |
| Regular shares | 65,691,440 |
| All Other Shares & Deposits | 5,284,192 |
| TOTAL SHARES & DEPOSITS | 90,700,720 |
| TOTAL LIABILITIES | 91,013,817 |
| Regular Reserve | 0 |
| Other Reserves | 709,563 |
| Undivided Earnings | 13,366,426 |
| TOTAL EQUITY | 14,075,989 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 105,089,806 |
| INCOME & EXPENSE | |
| Loan Income | 1,212,685 |
| Investment Income | 2,162,030 |
| Other Income | 195,079 |
| Total Employee Compensation & Benefits | 628,291 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,148,626 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | -60,000 |
| Cost of Funds | 75,800 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 2,105,435 |
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