Dec, 31, 2023 — 1ST GATEWAY CREDIT UNION is a federally insured state chartered credit union headquartered in CAMANCHE, IA with 7 branch locations and about $159.09 million in total assets. Opened 71 years ago in 1953, 1ST GATEWAY CREDIT UNION has about 10,598 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: | 1ST GATEWAY CREDIT UNION |
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Address: (Main Office) | 2603 Camanche Industrial Park Dr CAMANCHE, IA 52730-9500 |
Phone: | (563) 243-4121 |
Fax: | |
Website: | https://www.1stgateway.org |
Branches: | 7 branch locations |
Members: | 10,598 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 63124 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1953 |
Last Audited: | Aug 01, 2023 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $159,091,993 |
CEO/Manager: | Pat Drennen |
Chairperson: | Kerry Kennedy |
ASSETS: | $ Amount |
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Cash & Equivalents | 18,617,887 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 77,829,955 |
Unsecured Loans | 3,504,500 |
Other Loans | 51,929,846 |
TOTAL LOANS | 133,759,043 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -621,137 |
Land And Building | 2,798,808 |
Other Fixed Assets | 305,664 |
NCUSIF Deposit | 1,322,092 |
All Other Assets | 93,197 |
TOTAL ASSETS | 159,091,993 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 165,887 |
Notes & Interest Payable | 3,000,000 |
Accounts Payable & Other Liabilities | 719,430 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 24,344,787 |
Regular shares | 43,437,310 |
All Other Shares & Deposits | 65,447,170 |
TOTAL SHARES & DEPOSITS | 133,229,267 |
TOTAL LIABILITIES | 137,114,584 |
Regular Reserve | 0 |
Other Reserves | 11,870,594 |
Undivided Earnings | 10,106,815 |
TOTAL EQUITY | 21,977,409 |
TOTAL LIABILITIES, SHARES, & EQUITY | 159,091,993 |
INCOME & EXPENSE | |
Loan Income | 7,090,664 |
Investment Income | 933,274 |
Other Income | 764,237 |
Total Employee Compensation & Benefits | 3,191,224 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 2,892,932 |
Non-operating Income & (Expense) | -7,314 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 335,441 |
Cost of Funds | 1,733,360 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 1,245,000 |
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