Dec, 31, 2023 — NORSTAR FEDERAL CREDIT UNION is a federal credit union headquartered in BRITTON, SD with 1 branch location and about $69.50 million in total assets. Opened 82 years ago in 1942, NORSTAR FEDERAL CREDIT UNION has about 2,820 members and employs 9 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | NORSTAR FEDERAL CREDIT UNION |
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Address: (Main Office) | 515 Vander Horck St BRITTON, SD 57430 |
Phone: | (605) 448-2292 |
Fax: | (605) 448-2293 |
Website: | https://norstarfcu.com |
Branches: | 1 branch locations |
Members: | 2,820 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 4951 |
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Membership Type: | Community - Rural District |
Corporate Credit Union: | No |
Year Opened: | 1942 |
Last Audited: | Jun 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $69,503,053 |
CEO/Manager: | Jay Kruse |
Chairperson: | Kurtis Larson |
ASSETS: | $ Amount |
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Cash & Equivalents | 6,384,680 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 13,568,960 |
Unsecured Loans | 357,359 |
Other Loans | 24,070,581 |
TOTAL LOANS | 39,308,047 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -258,776 |
Land And Building | 1,181,113 |
Other Fixed Assets | 38,795 |
NCUSIF Deposit | 532,379 |
All Other Assets | 0 |
TOTAL ASSETS | 69,503,053 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 181,351 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | -771,232 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 21,984,881 |
Regular shares | 18,194,037 |
All Other Shares & Deposits | 20,678,045 |
TOTAL SHARES & DEPOSITS | 60,856,963 |
TOTAL LIABILITIES | 60,267,082 |
Regular Reserve | 0 |
Other Reserves | 368,141 |
Undivided Earnings | 8,867,830 |
TOTAL EQUITY | 9,235,971 |
TOTAL LIABILITIES, SHARES, & EQUITY | 69,503,053 |
INCOME & EXPENSE | |
Loan Income | 1,682,139 |
Investment Income | 358,920 |
Other Income | 70,630 |
Total Employee Compensation & Benefits | 750,015 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 544,930 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 9,674 |
Cost of Funds | 486,404 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 552,265 |
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