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INDEPENDENCE FEDERAL CREDIT UNION

Dec, 31, 2023 — INDEPENDENCE FEDERAL CREDIT UNION is a federal credit union headquartered in INDEPENDENCE, MO with 1 branch location and about $3.28 million in total assets. Opened 61 years ago in 1963, INDEPENDENCE FEDERAL CREDIT UNION has about 543 members offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:INDEPENDENCE FEDERAL CREDIT UNION
Address:
(Main Office)
301 W LEXINGTON AVE STE 260
INDEPENDENCE, MO 64050
Phone:(816) 833-0781
Fax:(816) 833-2496
Website:https://www.independencefcu.com
Branches:1 branch locations
Members:543
Credit Union Type:Federal Credit Union
Charter Number:15509
Membership Type:Multiple common bond - Primarily federal, state, local government
Corporate Credit Union:No
Year Opened:1963
Last Audited:Jul 01, 2022
FHLB Member:No
Low Income Designation:No
Assets:$3,279,308
CEO/Manager:Christina L Meaney
Chairperson:GARY FRANKLIN

Call Report

  • Payday Alternative Loans (PAL Loans)
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 950,858
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 162,284
 Other Loans 1,517,670
 TOTAL LOANS 1,679,954
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -7,008
 Land And Building 0
 Other Fixed Assets 0
 NCUSIF Deposit 29,993
 All Other Assets 0
  TOTAL ASSETS 3,279,308
LIABILITIES & CAPITAL:  
 Dividends Payable 1,110
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 3,997
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 716,712
 Regular shares 2,154,627
 All Other Shares & Deposits 181,176
  TOTAL SHARES & DEPOSITS 3,052,515
  TOTAL LIABILITIES 3,057,622
 Regular Reserve 0
 Other Reserves 0
 Undivided Earnings 221,686
  TOTAL EQUITY 221,686
  TOTAL LIABILITIES, SHARES, & EQUITY 3,279,308
INCOME & EXPENSE  
 Loan Income 72,872
 Investment Income 4,558
 Other Income 19,660
 Total Employee Compensation & Benefits 45,808
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 55,934
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 1,408
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -6,060
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