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
- 4,605
- Membership Type
- Community
NCUA Financial Health Score
Based on NCUA Q4 2025 Call Report data
Exceptionally well-capitalized with outstanding net worth ratio, very low delinquency, and strong earnings. One of the most financially sound credit unions in the country.
Financial Overview
Total Assets
Members
4,605 total members
Total Loans
Outstanding loan portfolio
Net Worth Ratio
Financial Details
| Metric | ELY AREA |
|---|---|
| Total Assets | $73.2M |
| Members | 4,605 |
| Loans Outstanding | $25.6M |
| Shares & Deposits | $61.5M |
| Net Worth | $11.7M |
| Net Worth Ratio | 15.93% |
| Loan-to-Share Ratio | 41.6% |
| Delinquency Rate | 0.50% |
| Net Income | +$1,708,197 |
Source: NCUA Q4 2025 Call Report • Cycle date: 12/31/2025
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.
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View Minnesota RankingsFrequently Asked Questions
Yes. ELY AREA is federally insured by the National Credit Union Administration (NCUA) up to $250,000 per depositor, per ownership category. This provides the same level of deposit protection as FDIC insurance at a bank.
As of the NCUA Q4 2025 Call Report, ELY AREA has 4,605 members and a potential membership field of 15,000 people.
ELY AREA's net worth ratio is 15.93% as of Q4 2025. The NCUA classifies a credit union as "well-capitalized" when its net worth ratio is 7% or higher. At 15.9%, ELY AREA meets this threshold.
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 (Q4 2025). CUScore is an independent directory and is not affiliated with the NCUA or ELY AREA. All financial data is for informational purposes only.