Dec, 31, 2023 — TEAMSTERS LOCAL #238 CREDIT UNION is a federally insured state chartered credit union headquartered in CEDAR RAPIDS, IA with 1 branch location and about $8.24 million in total assets. Opened 69 years ago in 1955, TEAMSTERS LOCAL #238 CREDIT UNION has about 1,748 members and employs 3 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | TEAMSTERS LOCAL #238 CREDIT UNION |
|---|---|
| Address: (Main Office) | 5050 J St SW CEDAR RAPIDS, IA 52404 |
| Phone: | (319) 363-8247 |
| Fax: | (319) 363-9059 |
| Website: | https://teamsterslocal238cu.org |
| Branches: | 1 branch locations |
| Members: | 1,748 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 65606 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1955 |
| Last Audited: | Feb 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $8,243,758 |
| CEO/Manager: | Eric M Sorensen |
| Chairperson: | Gregory L Hearns |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 602,597 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 160,231 |
| Other Loans | 3,478,172 |
| TOTAL LOANS | 3,638,403 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -30,110 |
| Land And Building | 0 |
| Other Fixed Assets | 0 |
| NCUSIF Deposit | 86,004 |
| All Other Assets | 0 |
| TOTAL ASSETS | 8,243,758 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 1 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 59,622 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 1,349,113 |
| Regular shares | 3,483,665 |
| All Other Shares & Deposits | 2,847,097 |
| TOTAL SHARES & DEPOSITS | 7,679,874 |
| TOTAL LIABILITIES | 7,739,497 |
| Regular Reserve | 0 |
| Other Reserves | 291,398 |
| Undivided Earnings | 212,863 |
| TOTAL EQUITY | 504,261 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 8,243,758 |
| INCOME & EXPENSE | |
| Loan Income | 200,109 |
| Investment Income | 66,657 |
| Other Income | 22,743 |
| Total Employee Compensation & Benefits | 190,336 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 288,787 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
| Cost of Funds | 24,210 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -200,904 |
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