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 |
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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 |
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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 |
ASSETS: | $ Amount |
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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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