Dec, 31, 2023 — HERITAGE GROVE FEDERAL CREDIT UNION is a federal credit union headquartered in SALEM, OR with 1 branch location and about $148.20 million in total assets. Opened 60 years ago in 1964, HERITAGE GROVE FEDERAL CREDIT UNION has about 9,105 members and employs 29 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | HERITAGE GROVE FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 631 Winter St NE SALEM, OR 97301 |
| Phone: | (503) 588-0211 |
| Fax: | (503) 371-7323 |
| Website: | https://www.ourgrovecu.com |
| Branches: | 1 branch locations |
| Members: | 9,105 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 16113 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1964 |
| Last Audited: | Mar 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $148,204,516 |
| CEO/Manager: | James A Mau |
| Chairperson: | Judith Haynes |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 14,564,667 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 39,291,219 |
| Unsecured Loans | 4,026,577 |
| Other Loans | 61,287,890 |
| TOTAL LOANS | 108,284,819 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -918,709 |
| Land And Building | 1,378,423 |
| Other Fixed Assets | 281,909 |
| NCUSIF Deposit | 1,373,526 |
| All Other Assets | 81,675 |
| TOTAL ASSETS | 148,204,516 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | -5,410,004 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 30,683,384 |
| Regular shares | 56,490,733 |
| All Other Shares & Deposits | 49,484,797 |
| TOTAL SHARES & DEPOSITS | 136,658,912 |
| TOTAL LIABILITIES | 131,248,908 |
| Regular Reserve | 0 |
| Other Reserves | 874,110 |
| Undivided Earnings | 16,081,498 |
| TOTAL EQUITY | 16,955,608 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 148,204,516 |
| INCOME & EXPENSE | |
| Loan Income | 5,405,410 |
| Investment Income | 1,286,949 |
| Other Income | 1,018,700 |
| Total Employee Compensation & Benefits | 2,421,877 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 2,476,987 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 706,738 |
| Cost of Funds | 884,232 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,366,410 |
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