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NORTHWOODS COMMUNITY CREDIT UNION

Dec, 31, 2023 — NORTHWOODS COMMUNITY CREDIT UNION is a federally insured state chartered credit union headquartered in PARK FALLS, WI with 2 branch locations and about $89.10 million in total assets. Opened 71 years ago in 1953, NORTHWOODS COMMUNITY CREDIT UNION has about 8,537 members and employs 26 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:NORTHWOODS COMMUNITY CREDIT UNION
Address:
(Main Office)
1224 4th Ave S
PARK FALLS, WI 54552-1923
Phone:(715) 762-3208
Fax:(725) 762-3490
Website:https://www.northwoodscu.com
Branches:2 branch locations
Members:8,537
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:67240
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1953
Last Audited:Mar 01, 2023
FHLB Member:Yes
Low Income Designation:No
Assets:$89,100,475
CEO/Manager:Sally J Zoesch
Chairperson:Christine F Simon

Call Report

  • First Time Homebuyer Program
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 4,173,552
TOTAL INVESTMENTS 0
Loans Held for Sale 245,990
 
 Real Estate Loans 15,957,672
 Unsecured Loans 1,484,409
 Other Loans 46,299,265
 TOTAL LOANS 65,452,009
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -340,033
 Land And Building 2,069,308
 Other Fixed Assets 298,915
 NCUSIF Deposit 810,352
 All Other Assets 8,000
  TOTAL ASSETS 89,100,475
LIABILITIES & CAPITAL:  
 Dividends Payable 41,313
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 529,497
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 25,169,225
 Regular shares 44,910,753
 All Other Shares & Deposits 9,940,824
  TOTAL SHARES & DEPOSITS 80,020,802
  TOTAL LIABILITIES 80,591,612
 Regular Reserve 0
 Other Reserves -165,307
 Undivided Earnings 8,674,170
  TOTAL EQUITY 8,508,863
  TOTAL LIABILITIES, SHARES, & EQUITY 89,100,475
INCOME & EXPENSE  
 Loan Income 3,079,509
 Investment Income 270,186
 Other Income 302,245
 Total Employee Compensation & Benefits 1,694,451
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 1,554,705
 Non-operating Income & (Expense) 15,475
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 110,462
 Cost of Funds 308,256
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 425,509
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