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NORTHERN INDIANA FEDERAL CREDIT UNION

Dec, 31, 2023 — NORTHERN INDIANA FEDERAL CREDIT UNION is a federal credit union headquartered in MERRILLVILLE, IN with 2 branch locations and about $39.03 million in total assets. Opened 89 years ago in 1935, NORTHERN INDIANA FEDERAL CREDIT UNION has about 5,782 members and employs 10 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:NORTHERN INDIANA FEDERAL CREDIT UNION
Address:
(Main Office)
8121 Grand Blvd
MERRILLVILLE, IN 46410
Phone:(219) 942-3377
Fax:(219) 947-5099
Website:https://www.nifedcu.org
Branches:2 branch locations
Members:5,782
Credit Union Type:Federal Credit Union
Charter Number:168
Membership Type:Multiple common bond - Primarily communications and utilities
Corporate Credit Union:No
Year Opened:1935
Last Audited:Sep 01, 2023
FHLB Member:No
Low Income Designation:No
Assets:$39,025,896
CEO/Manager:Christine C Biasi
Chairperson:Vernon Beck

Call Report

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Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 2,100,438
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 6,973,893
 Unsecured Loans 547,925
 Other Loans 17,665,652
 TOTAL LOANS 25,187,471
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -85,570
 Land And Building 435,653
 Other Fixed Assets 420,063
 NCUSIF Deposit 359,007
 All Other Assets 0
  TOTAL ASSETS 39,025,896
LIABILITIES & CAPITAL:  
 Dividends Payable 31
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 133,309
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 6,057,533
 Regular shares 25,525,671
 All Other Shares & Deposits 4,085,341
  TOTAL SHARES & DEPOSITS 35,668,545
  TOTAL LIABILITIES 35,801,885
 Regular Reserve 0
 Other Reserves 1,198,044
 Undivided Earnings 2,025,967
  TOTAL EQUITY 3,224,011
  TOTAL LIABILITIES, SHARES, & EQUITY 39,025,896
INCOME & EXPENSE  
 Loan Income 1,161,896
 Investment Income 249,841
 Other Income 187,689
 Total Employee Compensation & Benefits 745,384
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 820,711
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense -13,720
 Cost of Funds 72,102
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 142,651
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