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STAR CHOICE CREDIT UNION

Dec, 31, 2023 — STAR CHOICE CREDIT UNION is a federally insured state chartered credit union headquartered in BLOOMINGTON, MN with 2 branch locations and about $88.59 million in total assets. Opened 93 years ago in 1931, STAR CHOICE CREDIT UNION has about 6,111 members and employs 16 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 291075048
Name:STAR CHOICE CREDIT UNION
Address:
(Main Office)
10750 France Ave S
BLOOMINGTON, MN 55431
Phone:(952) 698-7228
Fax:
Website:https://www.starchoicecu.org
Branches:2 branch locations
Members:6,111
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:64706
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1931
Last Audited:Jun 01, 2023
FHLB Member:No
Low Income Designation:No
Assets:$88,586,247
CEO/Manager:Scott R Olson
Chairperson:Lindsey Olsen

Call Report

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 1,041,150
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 39,946,422
 Unsecured Loans 4,161,538
 Other Loans 21,500,703
 TOTAL LOANS 65,608,663
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -257,342
 Land And Building 1,861,366
 Other Fixed Assets 211,474
 NCUSIF Deposit 796,314
 All Other Assets 17,200
  TOTAL ASSETS 88,586,247
LIABILITIES & CAPITAL:  
 Dividends Payable 46,220
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 384,201
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 40,302,443
 Regular shares 24,895,763
 All Other Shares & Deposits 16,436,120
  TOTAL SHARES & DEPOSITS 81,634,326
  TOTAL LIABILITIES 82,064,747
 Regular Reserve 0
 Other Reserves 1,443,696
 Undivided Earnings 5,077,804
  TOTAL EQUITY 6,521,500
  TOTAL LIABILITIES, SHARES, & EQUITY 88,586,247
INCOME & EXPENSE  
 Loan Income 2,764,802
 Investment Income 224,172
 Other Income 158,927
 Total Employee Compensation & Benefits 1,137,074
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 1,830,008
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 247,451
 Cost of Funds 757,455
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -337,771
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