ELY AREA
State-Chartered • Ely, Minnesota • Est. 1938
Quick Facts
- Charter Number
- #63398
- Type
- State-Chartered
- Established
- 1938
- Headquarters
- Ely, Minnesota 55731
- Address
- 2 E Chapman St
- Branches
- 2
- ATMs
- 2
- Members
- 4,523
- Membership Type
- Community
CUScore Financial Grade
Based on Q1 2026 NCUA Call Report data
Under CUScore's rules, this institution reports a net worth ratio of at least 10% and a delinquency rate below 1%. This simplified grade is informational, is not an official NCUA rating, and does not determine regulatory or deposit-insurance status.
Financial Overview
Total Assets
Members
4,523 total members
Total Loans
Outstanding loan portfolio
Net Worth Ratio
Financial Details
| Metric | ELY AREA |
|---|---|
| Total Assets | $75.2M |
| Members | 4,523 |
| Loans Outstanding | $25.7M |
| Shares & Deposits | $63.0M |
| Net Worth | $12.1M |
| Net Worth Ratio | 16.11% |
| Loan-to-Share Ratio | 40.8% |
| Delinquency Rate | 0.00% |
| Net Income | +$466,035 |
Source: Q1 2026 NCUA Call Report • Reporting date: 3/31/2026
Branch Locations
2 locations · 2 ATMs
Main Branch
Main Office2 E Chapman St
Ely, MN 55731
Babbitt
24 Commerce Rd
Babbitt, MN 55706
Who Can Join ELY AREA?
Membership Type: Community
Membership eligibility for ELY AREA may vary. Contact the credit union directly to confirm qualification requirements.
Contact ELY AREA directly or visit their website for the most accurate and up-to-date membership eligibility information.
Find More Credit Unions in Minnesota
Review the Q1 2026 statewide dataset, aggregate ratios, and institutions ranked by reported assets.
View Minnesota RankingsFrequently Asked Questions
ELY AREA is listed as federally insured in the Q1 2026 NCUA dataset. NCUA share insurance generally covers qualifying accounts up to the standard maximum amount, with coverage depending on account ownership categories. Verify current status and coverage for your accounts with the NCUA or the institution.
As of the Q1 2026 NCUA Call Report, ELY AREA has 4,523 members and a potential membership field of 15,000 people.
ELY AREA's reported net worth ratio is 16.11% as of Q1 2026. The NCUA's standard net worth ratio threshold for "well capitalized" is 7%, although official status can involve additional rules.
ELY AREA operates 2 branch locations and has access to 2 ATMs. The main office is located at 2 E Chapman St, Ely, MN 55731.
ELY AREA was established in 1938. It is a state-chartered credit union chartered under charter number 63398. The institution has been serving members for 88 years.
Data sourced from the NCUA Quarterly Call Report (Q1 2026). CUScore is an independent directory and is not affiliated with the NCUA or ELY AREA. All financial data is for informational purposes only.