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LOCAL 697 FEDERAL CREDIT UNION

Dec, 31, 2020 — LOCAL 697 FEDERAL CREDIT UNION is a federal credit union headquartered in MERRILLVILLE, IN with 1 branch location and about $38.27 million in total assets. Opened 63 years ago in 1958, LOCAL 697 FEDERAL CREDIT UNION has about 2,666 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:2,666
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:$38,273,979
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 2,101,897
TOTAL INVESTMENTS 18,760,075
Loans Held for Sale 0
 
 Real Estate Loans 4,277,018
 Unsecured Loans 602,449
 Other Loans 9,643,298
 TOTAL LOANS 14,522,765
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -131,004
 Land And Building 858,758
 Other Fixed Assets 62,320
 NCUSIF Deposit 271,934
 All Other Assets 1,827,234
  TOTAL ASSETS 38,273,979
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 33,503
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 2,067,420
 Regular shares 7,511,965
 All Other Shares & Deposits 21,672,992
  TOTAL SHARES & DEPOSITS 31,252,377
  TOTAL LIABILITIES 31,285,880
 Regular Reserve 508,873
 Other Reserves 6,298,525
 Undivided Earnings 180,701
  TOTAL EQUITY 6,988,099
  TOTAL LIABILITIES, SHARES, & EQUITY 38,273,979
INCOME & EXPENSE  
 Loan Income 583,259
 Investment Income 349,601
 Other Income 100,468
 Total Employee Compensation & Benefits 470,207
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 288,556
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 29,000
 Cost of Funds 217,106
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 28,459
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