Dec, 31, 2023 — IAA CREDIT UNION is a federally insured state chartered credit union headquartered in BLOOMINGTON, IL with 3 branch locations and about $358.93 million in total assets. Opened 73 years ago in 1951, IAA CREDIT UNION has about 17,203 members and employs 47 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | IAA CREDIT UNION |
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Address: (Main Office) | 808 Iaa Dr BLOOMINGTON, IL 61701-2214 |
Phone: | (309) 557-2541 |
Fax: | (309) 557-2419 |
Website: | https://www.iaacu.org |
Branches: | 3 branch locations |
Members: | 17,203 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 68423 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1951 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $358,929,236 |
CEO/Manager: | Timothy S Wells |
Chairperson: | Thomas M Swearingen |
ASSETS: | $ Amount |
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Cash & Equivalents | 33,111,256 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 145,186,047 |
Unsecured Loans | 13,784,852 |
Other Loans | 58,446,522 |
TOTAL LOANS | 217,483,655 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,132,230 |
Land And Building | 0 |
Other Fixed Assets | 1,620,649 |
NCUSIF Deposit | 2,858,029 |
All Other Assets | 165,569 |
TOTAL ASSETS | 358,929,236 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 4,933,952 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 44,028,206 |
Regular shares | 62,331,347 |
All Other Shares & Deposits | 202,073,406 |
TOTAL SHARES & DEPOSITS | 308,432,959 |
TOTAL LIABILITIES | 313,366,911 |
Regular Reserve | 0 |
Other Reserves | 8,547,071 |
Undivided Earnings | 37,015,254 |
TOTAL EQUITY | 45,562,325 |
TOTAL LIABILITIES, SHARES, & EQUITY | 358,929,236 |
INCOME & EXPENSE | |
Loan Income | 10,364,610 |
Investment Income | 7,415,706 |
Other Income | 489,058 |
Total Employee Compensation & Benefits | 4,294,256 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 3,150,278 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 413,000 |
Cost of Funds | 9,152,192 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 3,191,861 |
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