Dec, 31, 2023 — TRUSTAR FEDERAL CREDIT UNION is a federal credit union headquartered in INTERNATIONAL FALLS, MN with 6 branch locations and about $330.46 million in total assets. Opened 64 years ago in 1960, TRUSTAR FEDERAL CREDIT UNION has about 18,289 members and employs 89 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | TRUSTAR FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 601 4th St INTERNATIONAL FALLS, MN 56649-2436 |
| Phone: | (218) 283-2000 |
| Fax: | (218) 283-8034 |
| Website: | https://www.trustarfcu.com |
| Branches: | 6 branch locations |
| Members: | 18,289 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 24626 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1960 |
| Last Audited: | Mar 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $330,460,812 |
| CEO/Manager: | Kipp L Raboin |
| Chairperson: | Michael J Lemieux |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 28,835,073 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 88,270 |
| Real Estate Loans | 143,781,563 |
| Unsecured Loans | 7,225,423 |
| Other Loans | 88,286,940 |
| TOTAL LOANS | 239,627,062 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -3,388,758 |
| Land And Building | 9,640,481 |
| Other Fixed Assets | 1,559,168 |
| NCUSIF Deposit | 2,499,262 |
| All Other Assets | 0 |
| TOTAL ASSETS | 330,460,812 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 755,935 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 4,532,380 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 78,758,630 |
| Regular shares | 121,219,496 |
| All Other Shares & Deposits | 76,922,162 |
| TOTAL SHARES & DEPOSITS | 276,900,287 |
| TOTAL LIABILITIES | 282,188,602 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 48,272,210 |
| TOTAL EQUITY | 48,272,210 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 330,460,812 |
| INCOME & EXPENSE | |
| Loan Income | 12,656,440 |
| Investment Income | 2,530,016 |
| Other Income | 1,455,749 |
| Total Employee Compensation & Benefits | 7,834,028 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 5,579,016 |
| Non-operating Income & (Expense) | 1,900 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 676,044 |
| Cost of Funds | 3,286,392 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 2,511,745 |
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