Dec, 31, 2023 — FREEDOM COMMUNITY CREDIT UNION is a federally insured state chartered credit union headquartered in FARGO, ND with 2 branch locations and about $29.79 million in total assets. Opened 70 years ago in 1954, FREEDOM COMMUNITY CREDIT UNION has about 2,305 members and employs 4 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | FREEDOM COMMUNITY CREDIT UNION |
|---|---|
| Address: (Main Office) | 2940 University Dr N FARGO, ND 58102 |
| Phone: | (701) 232-0828 |
| Fax: | (701) 293-7339 |
| Website: | https://www.freedomccu.com |
| Branches: | 2 branch locations |
| Members: | 2,305 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 62722 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1954 |
| Last Audited: | Sep 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $29,788,152 |
| CEO/Manager: | James Schaefbauer |
| Chairperson: | Robert Foss |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 3,378,253 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 4,612,444 |
| Unsecured Loans | 412,597 |
| Other Loans | 8,684,206 |
| TOTAL LOANS | 13,709,246 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -84,966 |
| Land And Building | 1,107,185 |
| Other Fixed Assets | 6,447 |
| NCUSIF Deposit | 0 |
| All Other Assets | 0 |
| TOTAL ASSETS | 29,788,152 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 33,269 |
| Notes & Interest Payable | 500,000 |
| Accounts Payable & Other Liabilities | 35,162 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 5,981,501 |
| Regular shares | 7,202,878 |
| All Other Shares & Deposits | 13,710,616 |
| TOTAL SHARES & DEPOSITS | 26,894,996 |
| TOTAL LIABILITIES | 27,463,427 |
| Regular Reserve | 0 |
| Other Reserves | 369,064 |
| Undivided Earnings | 1,955,661 |
| TOTAL EQUITY | 2,324,725 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 29,788,152 |
| INCOME & EXPENSE | |
| Loan Income | 615,423 |
| Investment Income | 172,645 |
| Other Income | 57,387 |
| Total Employee Compensation & Benefits | 359,588 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 639,376 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
| Cost of Funds | 105,363 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -248,680 |
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