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 |
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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 |
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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 |
ASSETS: | $ Amount |
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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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