Dec, 31, 2023 — DAKOTA WEST CREDIT UNION is a federally insured state chartered credit union headquartered in WATFORD CITY, ND with 8 branch locations and about $307.14 million in total assets. Opened 83 years ago in 1941, DAKOTA WEST CREDIT UNION has about 7,122 members and employs 52 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | DAKOTA WEST CREDIT UNION |
|---|---|
| Address: (Main Office) | 340 N MAIN ST WATFORD CITY, ND 58854 |
| Phone: | (701) 444-6484 |
| Fax: | (701) 444-3829 |
| Website: | https://www.dakotawestcu.com |
| Branches: | 8 branch locations |
| Members: | 7,122 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 62380 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1941 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $307,138,704 |
| CEO/Manager: | Jeff Meyer |
| Chairperson: | Joy Brew |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 34,898,537 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 108,954,975 |
| Unsecured Loans | 4,159,152 |
| Other Loans | 46,998,483 |
| TOTAL LOANS | 160,112,611 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -2,693,846 |
| Land And Building | 5,942,160 |
| Other Fixed Assets | 468,797 |
| NCUSIF Deposit | 1,973,817 |
| All Other Assets | 131,214 |
| TOTAL ASSETS | 307,138,704 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 786,249 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 2,325,621 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 93,574,354 |
| Regular shares | 131,715,857 |
| All Other Shares & Deposits | 48,831,515 |
| TOTAL SHARES & DEPOSITS | 274,121,727 |
| TOTAL LIABILITIES | 277,257,938 |
| Regular Reserve | 0 |
| Other Reserves | -7,943,568 |
| Undivided Earnings | 37,824,334 |
| TOTAL EQUITY | 29,880,766 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 307,138,704 |
| INCOME & EXPENSE | |
| Loan Income | 8,325,326 |
| Investment Income | 3,504,441 |
| Other Income | 901,760 |
| Total Employee Compensation & Benefits | 5,500,553 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 4,035,720 |
| Non-operating Income & (Expense) | 232,498 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 581,752 |
| Cost of Funds | 1,708,794 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 2,047,193 |
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