Dec, 31, 2023 — MINNESOTA VALLEY FEDERAL CREDIT UNION is a federal credit union headquartered in MANKATO, MN with 3 branch locations and about $283.39 million in total assets. Opened 90 years ago in 1934, MINNESOTA VALLEY FEDERAL CREDIT UNION has about 17,835 members and employs 37 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | MINNESOTA VALLEY FEDERAL CREDIT UNION |
---|---|
Address: (Main Office) | 1640 Adams St MANKATO, MN 56001 |
Phone: | (507) 387-3055 |
Fax: | (507) 387-5235 |
Website: | https://www.mnvalleyfcu.coop |
Branches: | 3 branch locations |
Members: | 17,835 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 19440 |
---|---|
Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
Corporate Credit Union: | No |
Year Opened: | 1934 |
Last Audited: | Mar 01, 2023 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $283,393,874 |
CEO/Manager: | Nick S Meyer |
Chairperson: | Steve L Erdman |
ASSETS: | $ Amount |
---|---|
Cash & Equivalents | 7,975,938 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 435,196 |
Real Estate Loans | 79,008,690 |
Unsecured Loans | 2,759,551 |
Other Loans | 61,239,775 |
TOTAL LOANS | 143,008,017 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -851,152 |
Land And Building | 1,130,166 |
Other Fixed Assets | 514,645 |
NCUSIF Deposit | 2,454,445 |
All Other Assets | 0 |
TOTAL ASSETS | 283,393,874 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 528,398 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | -717,089 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 49,985,872 |
Regular shares | 63,266,296 |
All Other Shares & Deposits | 139,914,645 |
TOTAL SHARES & DEPOSITS | 253,166,813 |
TOTAL LIABILITIES | 252,978,122 |
Regular Reserve | 0 |
Other Reserves | 2,171,994 |
Undivided Earnings | 28,243,758 |
TOTAL EQUITY | 30,415,752 |
TOTAL LIABILITIES, SHARES, & EQUITY | 283,393,874 |
INCOME & EXPENSE | |
Loan Income | 6,654,475 |
Investment Income | 2,313,400 |
Other Income | 515,593 |
Total Employee Compensation & Benefits | 2,608,983 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 3,571,284 |
Non-operating Income & (Expense) | 382,978 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 56,822 |
Cost of Funds | 3,180,408 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 2,253,309 |
↑ Back to Top |