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INDIANA LAKES FEDERAL CREDIT UNION

Dec, 31, 2023 — INDIANA LAKES FEDERAL CREDIT UNION is a federal credit union headquartered in WARSAW, IN with 1 branch location and about $25.93 million in total assets. Opened 47 years ago in 1977, INDIANA LAKES FEDERAL CREDIT UNION has about 1,783 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:INDIANA LAKES FEDERAL CREDIT UNION
Address:
(Main Office)
322 S Detroit St
WARSAW, IN 46580-4401
Phone:(574) 267-7497
Fax:(574) 269-9509
Website:https://www.ilfcu.org
Branches:1 branch locations
Members:1,783
Credit Union Type:Federal Credit Union
Charter Number:22704
Membership Type:Community credit unions, urban or rural, other than those designated 'low income'
Corporate Credit Union:No
Year Opened:1977
Last Audited:Jun 01, 2023
FHLB Member:No
Low Income Designation:No
Assets:$25,928,282
CEO/Manager:David B Brumbaugh
Chairperson:Matthew Reinholt

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 2,019,826
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 10,254,107
 Unsecured Loans 520,848
 Other Loans 3,302,674
 TOTAL LOANS 14,077,629
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -106,567
 Land And Building 96,525
 Other Fixed Assets 74,454
 NCUSIF Deposit 244,854
 All Other Assets 0
  TOTAL ASSETS 25,928,282
LIABILITIES & CAPITAL:  
 Dividends Payable 11,441
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 52,788
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 4,958,366
 Regular shares 9,955,055
 All Other Shares & Deposits 7,946,445
  TOTAL SHARES & DEPOSITS 22,859,866
  TOTAL LIABILITIES 22,924,095
 Regular Reserve 0
 Other Reserves 326,585
 Undivided Earnings 2,677,602
  TOTAL EQUITY 3,004,187
  TOTAL LIABILITIES, SHARES, & EQUITY 25,928,282
INCOME & EXPENSE  
 Loan Income 571,897
 Investment Income 248,793
 Other Income 162,614
 Total Employee Compensation & Benefits 339,204
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 317,982
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 12,000
 Cost of Funds 233,934
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 80,184
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