ELY AREA Credit Union Profile

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ELY AREA

Charter #63398 | NCUA Region 3 | FISCU
Low-Income Designation: Yes
Report Date: 2025

Headquarters Contact & Staff

Contact & Info

Phone: (218) 365-3131

Fax: (218) 365-3045

Founding Date: N/A

Website: http://www.elyareacu.org

Personnel & Operations

President: Aho, Todd

Manager: Krekelberg, Mark

FT Employees: 8

PT Employees: 1

Designations & Ratios

MDI Status: No

RBC Ratio: 0%

Membership Type: 99

Branches: 2

Hours: M-T 8:30-5:00 F 8:30-5:30

Credit Union Profile Summary

ELY AREA is a FISCU Credit Union. With a total of 4,627 members [1], this institution manages approximately $69,629,015 in total assets [1]. It proudly serves as a Low-Income Designated institution. Key financial indicators show a solid Net Worth Ratio of 15.47% [1] and a strong Loan-to-Share Ratio, with loan growth over the last four quarters at 2.29% [1].

Financial Snapshot

Total Assets [1]
$69,629,015

Total economic resources.

Total Loans [1]
$25,671,326

Total value of outstanding loans.

Total Deposits [1]
$58,815,382

Total funds deposited by members.

Members [1]
4,627

Number of active members.

Performance Ratios

Net Worth Ratio [1]
15.47%

This is the credit union's safety cushion; 7.0% is the regulatory minimum. A higher ratio means the credit union is stable.

Return on Assets (ROAA) [1]
2.41%

Measures profitability. Shows profit generated per dollar of assets. Near 1.0% is considered strong.

Loan-to-Share Ratio [1]
43.65%

Measures lending activity using member deposits. Below 100% is generally healthy, balancing lending and liquidity.

Four-Quarter Growth

Asset Growth (4Q) [1]
↑ 4.76%

Indicates change in total size. Positive growth means the credit union is expanding its operations.

Loan Growth (4Q) [1]
↑ 2.29%

Shows change in lending activity. Positive growth means they are actively increasing their lending business.

Member Growth (4Q) [1]
↑ 0.11%

Indicates change in member count. Positive growth is a sign of a healthy, expanding member base.

Headquarters Location & Map

Headquarters Address

2 E CHAPMAN ST

ELY, MN, 55731
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Member Ratings & Reviews

Average Member Rating:

N/A / 5.0

Total Approved Reviews:

0

Rate This Credit Union

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Branch Locations

Found 2 branches reported by ELY AREA (Charter #63398).

Main Office

Main Branch Main Office

Type: Corporate Office

2 E Chapman St

Ely, MN 55731

Phone: (218) 365-3131

Services: Member Services, ATM, Drive-Thru

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Additional Branches

Babbitt

Babbitt

Type: Branch Office

24 Commerce Rd

Babbitt, MN 55706

Phone: (218) 827-3121

Services: Member Services, ATM, Drive-Thru

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