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NORTHERN VALLEY FEDERAL CREDIT UNION

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
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
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

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Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
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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