Dec, 31, 2023 — FIRST TRUST CREDIT UNION is a federally insured state chartered credit union headquartered in MICHIGAN CITY, IN with 4 branch locations and about $160.89 million in total assets. Opened 65 years ago in 1959, FIRST TRUST CREDIT UNION has about 14,065 members and employs 41 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | FIRST TRUST CREDIT UNION |
|---|---|
| Address: (Main Office) | 950 E US Highway 20 MICHIGAN CITY, IN 46360-7470 |
| Phone: | (800) 276-6161 |
| Fax: | (219) 873-1331 |
| Website: | https://www.firsttrustcu.com |
| Branches: | 4 branch locations |
| Members: | 14,065 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 68596 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1959 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $160,891,753 |
| CEO/Manager: | Kim Kniola |
| Chairperson: | Robert Tillema |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 8,268,364 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 24,644,202 |
| Unsecured Loans | 1,681,486 |
| Other Loans | 21,069,293 |
| TOTAL LOANS | 47,394,981 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -639,406 |
| Land And Building | 1,761,232 |
| Other Fixed Assets | 256,763 |
| NCUSIF Deposit | 1,504,260 |
| All Other Assets | 1,935 |
| TOTAL ASSETS | 160,891,753 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 22,476 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 8,854 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 34,224,650 |
| Regular shares | 70,116,063 |
| All Other Shares & Deposits | 37,371,108 |
| TOTAL SHARES & DEPOSITS | 141,711,821 |
| TOTAL LIABILITIES | 141,744,244 |
| Regular Reserve | 0 |
| Other Reserves | 400,000 |
| Undivided Earnings | 18,747,509 |
| TOTAL EQUITY | 19,147,509 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 160,891,753 |
| INCOME & EXPENSE | |
| Loan Income | 2,353,478 |
| Investment Income | 2,080,067 |
| Other Income | 935,680 |
| Total Employee Compensation & Benefits | 2,316,185 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 2,400,579 |
| Non-operating Income & (Expense) | 133,214 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 198,126 |
| Cost of Funds | 481,690 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,626,039 |
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