Dec, 31, 2023 — FORTRESS FEDERAL CREDIT UNION is a federal credit union headquartered in MARION, IN with 1 branch location and about $18.62 million in total assets. Opened 73 years ago in 1951, FORTRESS FEDERAL CREDIT UNION has about 1,983 members and employs 6 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | FORTRESS FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 615 N Western Ave MARION, IN 46952 |
| Phone: | (765) 668-3313 |
| Fax: | (765) 668-3319 |
| Website: | https://fortressfcu.org |
| Branches: | 1 branch locations |
| Members: | 1,983 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 7392 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1951 |
| Last Audited: | Aug 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $18,624,858 |
| CEO/Manager: | Lisa A Blades |
| Chairperson: | Paul Mittan |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,600,007 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 220,772 |
| Unsecured Loans | 1,104,939 |
| Other Loans | 10,955,025 |
| TOTAL LOANS | 12,280,736 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -143,522 |
| Land And Building | 383,397 |
| Other Fixed Assets | 4,651 |
| NCUSIF Deposit | 147,756 |
| All Other Assets | 0 |
| TOTAL ASSETS | 18,624,858 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 6,563 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 111,013 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 2,308,722 |
| Regular shares | 4,435,581 |
| All Other Shares & Deposits | 8,298,648 |
| TOTAL SHARES & DEPOSITS | 15,042,951 |
| TOTAL LIABILITIES | 15,160,527 |
| Regular Reserve | 0 |
| Other Reserves | 961,839 |
| Undivided Earnings | 2,502,492 |
| TOTAL EQUITY | 3,464,331 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 18,624,858 |
| INCOME & EXPENSE | |
| Loan Income | 582,754 |
| Investment Income | 238,538 |
| Other Income | 141,212 |
| Total Employee Compensation & Benefits | 349,355 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 342,295 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 62,218 |
| Cost of Funds | 99,786 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 149,296 |
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