North Dakota
REGULATING AGENCY: North Dakota Department of Financial Institutions
North Dakota State Capitol
- Lise Kruse, Commissioner
- Corey Krebs, Assistant Commissioner
- Website: nd.gov/dfi
ACCREDITED: 2000
LEAGUE: Dakota Credit Union Association
- Jeff Olson, President/CEO
- Website: dakcu.org
PRIVATE SHARE INSURANCE: No
2023 STATS
- Largest SCU: FIRST COMMUNITY CU $1.32B in assets
- Largest FCU: ASPIRE COMMUNITY FCU $0.17B in assets
| Fourth Quarter 2023 | SCUs | FCUs | Total CUs | % of SCUs/Total |
|---|---|---|---|---|
| Total Credit Unions | 18 | 13 | 31 | 58.06% |
| Credit Union Members | 0.19M | 0.03M | 0.22M | 87.91% |
| Credit Union Assets | $4.95B | $0.46B | $5.41B | 91.55% |
FUN FACT
Founded in 1978 Fort Berthold Community College is a tribally chartered college located on the Fort Berthold Indian Reservation near the town of New Town.
RECENT NEWS
ND credit unions recover assets in federal dispute
Jan 12, 2024 — North Dakota credit unions will receive more than $11.9 million in recovered assets that had previously been denied by the National Credit Union Administration (NCUA), according to the Dakota Credit Union Association.
The federal agency agreed to settle the dispute after a federal judge denied its request to dismiss the lawsuit filed by the credit unions in April 2023 in U.S. District Court in Kansas. NCUA plans to return the assets by Jan. 18.
Over the past two years, the Dakota Credit Union Association has led the effort and assisted its North Dakota members in repeated attempts to recover the funds that were withheld following the financial collapse that began in 2008. NCUA had placed U.S. Central Federal Credit Union, which provided services to corporate credit unions, into conservatorship, eventually closing and placing it into liquidation in October 2010.
The civil lawsuit was filed by 25 North Dakota credit unions following repeated appeals to NCUA to return the recovered assets. The lawsuit maintained that when Bismarck-based Midwest Corporate Federal Credit Union was dissolved in 2011, its remaining assets became the property of the credit unions and that NCUA wrongfully denied payment of their share of those assets after appointing itself as liquidating agent. The judge agreed.
STORY ARCHIVE
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