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NORTHRIDGE COMMUNITY CREDIT UNION

Dec, 31, 2023 — NORTHRIDGE COMMUNITY CREDIT UNION is a federally insured state chartered credit union headquartered in HOYT LAKES, MN with 5 branch locations and about $104.76 million in total assets. Opened 67 years ago in 1957, NORTHRIDGE COMMUNITY CREDIT UNION has about 7,222 members and employs 33 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:NORTHRIDGE COMMUNITY CREDIT UNION
Address:
(Main Office)
283 Kennedy Memorial Dr
HOYT LAKES, MN 55750
Phone:(218) 471-2121
Fax:(218) 225-3308
Website:https://www.nrccu.org
Branches:5 branch locations
Members:7,222
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:61257
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1957
Last Audited:Jun 01, 2023
FHLB Member:Yes
Low Income Designation:No
Assets:$104,756,237
CEO/Manager:Nicholas Mathiowetz
Chairperson:Sue Sowers

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 8,384,700
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 46,489,775
 Unsecured Loans 9,485,280
 Other Loans 24,281,867
 TOTAL LOANS 80,624,969
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -642,253
 Land And Building 5,306,706
 Other Fixed Assets 940,752
 NCUSIF Deposit 791,412
 All Other Assets 6,639
  TOTAL ASSETS 104,756,237
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 7,000,000
 Accounts Payable & Other Liabilities 1,207,535
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 16,702,922
 Regular shares 34,938,443
 All Other Shares & Deposits 31,865,412
  TOTAL SHARES & DEPOSITS 83,506,777
  TOTAL LIABILITIES 91,714,312
 Regular Reserve 0
 Other Reserves 1,828,086
 Undivided Earnings 11,213,839
  TOTAL EQUITY 13,041,925
  TOTAL LIABILITIES, SHARES, & EQUITY 104,756,237
INCOME & EXPENSE  
 Loan Income 5,645,266
 Investment Income 200,816
 Other Income 1,444,819
 Total Employee Compensation & Benefits 1,997,441
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 2,124,376
 Non-operating Income & (Expense) 300,123
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 766,894
 Cost of Funds 1,196,395
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 2,167,569
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