Ely Area Credit Union

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A short history of Ely Area CU

Since its inception in 1938 the Ely Area Credit Union has been serving its members in the ELY, Minnesota area with exceptional financial products. You can find their current interest rates on used car loans, new car loans, 1st mortgage loans and interest rates on both fixed and adjustable mortgages here on these pages. Currently led by Mark Krekelberg, the Ely Area CU has grown its membership to over 4,457 with assets of more than $39,265,143. They have a main office and 2 branch offices. Please see the credit unions website or contact them by phone at (218) 365-3131 or email them at mark@elyareacu.org to get exact details . There are many other credit unions in the local area. See them all here. Credit Unions in ELY, MN.

General Information For Ely Area CU was taken from their 6/30/2017 quarterly report, which is the most current available public information.

Charter Number 63398
Address 2 E CHAPMAN ST 
City ELY 
State Minnesota 
Zip-Code 55731
Phone Number (218) 365-3131
Fax Number (218) 365-3045
Email Address: mark@elyareacu.org
CEO/President Mark Krekelberg
Members 4,457 
Full-Time Employees
Part-Time Employees
Number of Branch Offices
Total Assets 39,265,143 
Website http://www.elyareacu.org 

Compare Ely Area Credit Union To Other Local Credit Unions

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Ely Area Credit Union Financial Performance Charts

Performance Charts

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Financial Data

Ely Area Credit Union Lowest Loan Rates With State and USA Rankings

Unsecured Credit Card New Car Loans Used Car Loans 1st Mortgage Loans Other Real Estate
Rate 10.90 3.40 3.40 5.00 5.25
Mean Rate For All USA Based Credit Unions 10.56 3.72 5.00 4.48 4.95
Rank Among All USA Credit Unions 332 197 137 268 260
Rank Among All Minnesota Credit Unions 26 41 22 35 34

Ely Area Credit Union Highest Deposit Rates With State and USA Rankings

Checking Regular Savings Money Market Certificates of Deposits IRA/KEOGH
Rate N/A 0.02 N/A N/A 0.05
Mean Rate For All USA Based Credit Unions 0.19 0.26 0.29 0.73 0.66
Rank Among All USA Credit Unions N/A 151 N/A N/A 291
Rank Among All Minnesota Credit Unions N/A 25 N/A N/A 38
Ely Area Credit Union Loans and Leases

Interest Rate Number of Loans Amount
Unsecured Credit Card Loans 10.900180184,512
All Other Unsecured Loans/Lines of Credit 9.0007571,119,086
Short-Term, Small Amount Loans (STS) (Federal CU Only) 0.00000
Non-Federally Guaranteed Student Loans 0.00000
New Vehicle Loans 3.400781,341,024
Used Vehicle Loans 3.4003463,097,765
Total 1st Mortgage Real Estate Loans/Lines of Credit 5.000553,223,547
Total Other Real Estate Loans/Lines of Credit 5.2501253,731,207
Leases Receivable 0.00000
Total All Other Loans/Lines of Credit 6.0003192,198,837
TOTAL LOANS & LEASES 1,86014,895,978

Ely Area Credit Union Real Estate Loans and Lines of Credit


No. of Loans Outstanding Amt of Loans Outstanding No. of Loans Granted Year- to-Date Amount Granted Year-To-Date
Fixed Rate
    a. > 15 years 146,63100
    b. 15 Years or less 181,043,6304271,500
    a. > 15 years 0000
    b. 15 Years or less 0000
Other Fixed Rate 0000
Adjustable Rate 1 yr or less 0000
Adjustable Rate > 1 yr 362,133,2867401,550


Closed-End Fixed Rate 19670,9664185,500
Closed-End Adjustable Rate 1002,873,777227,000
Open-End Adjustable Rate 6186,46400
Open-End Fixed Rate 0000
TOTALS 1806,954,75417885,550


Interest Only & Payment Option 1st Mortgage Loans 000
Interest Only & Payment Option Other RE/LOC Loans 000
    a. Federally Insured Home Equity Conversion Mortgage (HECM) 0000
    b. Proprietary Reverse Mortgage Products 0000

Ely Area Credit Union Member Offerings
First Time Homebuyer Program No
Real Estate Loans Yes
Pay Day Lending No
Share Secured Credit Cards No
Overdraft Protection/Courtesy Pay No
Overdraft Lines of Credit Yes
ATM/Debit Card Program Yes
Interest Only and Payment Option 1st Mortgage Loans No
Check Cashing No
Money Orders Yes
No Surcharge ATMs No
Home Banking Via Internet Website Yes