Dec, 31, 2023 — THE FAMILY CREDIT UNION is a federally insured state chartered credit union headquartered in DAVENPORT, IA with 10 branch locations and about $242.06 million in total assets. Opened 89 years ago in 1935, THE FAMILY CREDIT UNION has about 20,215 members and employs 68 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | THE FAMILY CREDIT UNION |
|---|---|
| Address: (Main Office) | 1530 W 53rd St DAVENPORT, IA 52806 |
| Phone: | (563) 388-8328 |
| Fax: | (563) 388-0456 |
| Website: | https://www.familycu.com |
| Branches: | 10 branch locations |
| Members: | 20,215 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 60728 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1935 |
| Last Audited: | Jun 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $242,058,846 |
| CEO/Manager: | David A Hulsbrink |
| Chairperson: | William A Buckley |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 12,267,743 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 70,039,699 |
| Unsecured Loans | 11,182,308 |
| Other Loans | 76,166,226 |
| TOTAL LOANS | 157,599,440 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -944,264 |
| Land And Building | 2,661,554 |
| Other Fixed Assets | 498,186 |
| NCUSIF Deposit | 2,027,557 |
| All Other Assets | 173,657 |
| TOTAL ASSETS | 242,058,846 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 255,209 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 3,201,836 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 43,387,369 |
| Regular shares | 109,325,810 |
| All Other Shares & Deposits | 54,544,309 |
| TOTAL SHARES & DEPOSITS | 207,257,488 |
| TOTAL LIABILITIES | 210,714,533 |
| Regular Reserve | 0 |
| Other Reserves | 6,116,080 |
| Undivided Earnings | 25,228,233 |
| TOTAL EQUITY | 31,344,313 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 242,058,846 |
| INCOME & EXPENSE | |
| Loan Income | 8,515,046 |
| Investment Income | 1,364,424 |
| Other Income | 2,937,807 |
| Total Employee Compensation & Benefits | 3,382,015 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 5,051,372 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 800,000 |
| Cost of Funds | 1,997,596 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 2,297,977 |
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