Dec, 31, 2023 — NORTHERN VALLEY FEDERAL CREDIT UNION is a federal credit union headquartered in GRAND FORKS, ND with 1 branch location and about $18.27 million in total assets. Opened 88 years ago in 1936, NORTHERN VALLEY FEDERAL CREDIT UNION has about 1,466 members and employs 3 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | NORTHERN VALLEY FEDERAL CREDIT UNION |
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Address: (Main Office) | 3030 Demers Ave GRAND FORKS, ND 58201 |
Phone: | (701) 772-7922 |
Fax: | (701) 772-5076 |
Website: | https://northernvalleyfcu.com |
Branches: | 1 branch locations |
Members: | 1,466 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 1344 |
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Membership Type: | Community - Rural District |
Corporate Credit Union: | No |
Year Opened: | 1936 |
Last Audited: | Sep 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $18,272,656 |
CEO/Manager: | Nancy S Vodden |
Chairperson: | Ole Borgen |
ASSETS: | $ Amount |
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Cash & Equivalents | 1,241,355 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 360,675 |
Unsecured Loans | 266,852 |
Other Loans | 11,571,784 |
TOTAL LOANS | 12,199,311 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -52,308 |
Land And Building | 602,630 |
Other Fixed Assets | 51,555 |
NCUSIF Deposit | 160,760 |
All Other Assets | 0 |
TOTAL ASSETS | 18,272,656 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 37,803 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 62,180 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 3,613,782 |
Regular shares | 9,080,813 |
All Other Shares & Deposits | 3,466,675 |
TOTAL SHARES & DEPOSITS | 16,161,270 |
TOTAL LIABILITIES | 16,261,253 |
Regular Reserve | 0 |
Other Reserves | 0 |
Undivided Earnings | 2,011,403 |
TOTAL EQUITY | 2,011,403 |
TOTAL LIABILITIES, SHARES, & EQUITY | 18,272,656 |
INCOME & EXPENSE | |
Loan Income | 495,963 |
Investment Income | 189,190 |
Other Income | 159,675 |
Total Employee Compensation & Benefits | 226,038 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 303,023 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
Cost of Funds | 140,154 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 182,266 |
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