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LOCAL 697 FEDERAL CREDIT UNION

Mar, 31, 2021 — LOCAL 697 FEDERAL CREDIT UNION is a federal credit union headquartered in MERRILLVILLE, IN with 1 branch location and about $39.56 million in total assets. Opened 63 years ago in 1958, LOCAL 697 FEDERAL CREDIT UNION has about 2,675 members and employs 4 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:LOCAL 697 FEDERAL CREDIT UNION
Address:
(Main Office)
7200 MISSISSIPPI ST STE 400
MERRILLVILLE, IN 46410
Phone:(219) 845-6040
Fax:(219) 972-6699
Website:http://www.697fcu.org
Branches:1 branch locations
Members:2,675
Credit Union Type:Federal Credit Union
Charter Number:12745
Membership Type:Multiple common bond - Primarily communications and utilities
Corporate Credit Union:No
Year Opened:1958
Last Audited:Oct 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$39,560,775
CEO/Manager:Daniel F Simon
Chairperson:David A Soderquist

Call Report

  • Micro Business Loans
  • Real Estate Loans
  • ATM/Debit Card Program
  • Commercial Share Accounts
  • Check Cashing
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 1,972,660
TOTAL INVESTMENTS 20,031,017
Loans Held for Sale 0
 
 Real Estate Loans 4,209,673
 Unsecured Loans 574,398
 Other Loans 9,979,329
 TOTAL LOANS 14,763,400
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -128,112
 Land And Building 854,411
 Other Fixed Assets 58,244
 NCUSIF Deposit 271,934
 All Other Assets 1,737,221
  TOTAL ASSETS 39,560,775
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 36,246
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 2,172,632
 Regular shares 8,179,768
 All Other Shares & Deposits 22,332,506
  TOTAL SHARES & DEPOSITS 32,684,906
  TOTAL LIABILITIES 32,721,152
 Regular Reserve 508,873
 Other Reserves 6,137,533
 Undivided Earnings 193,217
  TOTAL EQUITY 6,839,623
  TOTAL LIABILITIES, SHARES, & EQUITY 39,560,775
INCOME & EXPENSE  
 Loan Income 149,659
 Investment Income 79,563
 Other Income 3,560
 Total Employee Compensation & Benefits 117,489
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 70,466
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 8,000
 Cost of Funds 38,125
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 12,517
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