Dec, 31, 2023 — UNITED BUSINESS & INDUSTRY FEDERAL CREDIT UNION is a federal credit union headquartered in PLAINVILLE, CT with 2 branch locations and about $126.98 million in total assets. Opened 73 years ago in 1951, UNITED BUSINESS & INDUSTRY FEDERAL CREDIT UNION has about 11,008 members and employs 22 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | UNITED BUSINESS & INDUSTRY FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 120 Woodford Ave PLAINVILLE, CT 06062-2335 |
| Phone: | (860) 747-4152 |
| Fax: | (860) 793-8248 |
| Website: | https://ubifcu.com |
| Branches: | 2 branch locations |
| Members: | 11,008 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 7244 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1951 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $126,978,604 |
| CEO/Manager: | Edward E Bohnwagner III |
| Chairperson: | Howard Schmelder |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 4,743,051 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 24,019,369 |
| Unsecured Loans | 2,596,126 |
| Other Loans | 79,136,329 |
| TOTAL LOANS | 105,751,823 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -460,606 |
| Land And Building | 936,933 |
| Other Fixed Assets | 142,414 |
| NCUSIF Deposit | 1,036,628 |
| All Other Assets | 0 |
| TOTAL ASSETS | 126,978,604 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 89,227 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 830,953 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 23,196,989 |
| Regular shares | 51,751,762 |
| All Other Shares & Deposits | 38,707,267 |
| TOTAL SHARES & DEPOSITS | 113,656,018 |
| TOTAL LIABILITIES | 114,576,198 |
| Regular Reserve | 0 |
| Other Reserves | 2,820,437 |
| Undivided Earnings | 9,581,969 |
| TOTAL EQUITY | 12,402,406 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 126,978,604 |
| INCOME & EXPENSE | |
| Loan Income | 4,617,170 |
| Investment Income | 622,589 |
| Other Income | 489,219 |
| Total Employee Compensation & Benefits | 2,199,732 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,617,503 |
| Non-operating Income & (Expense) | 312,356 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 314,183 |
| Cost of Funds | 570,628 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,656,197 |
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