Dec, 31, 2023 — BUSINESS AND INDUSTRIAL FEDERAL CREDIT UNION is a federal credit union headquartered in COLUMBUS, IN with 2 branch locations and about $44.88 million in total assets. Opened 64 years ago in 1960, BUSINESS AND INDUSTRIAL FEDERAL CREDIT UNION has about 4,122 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: | BUSINESS AND INDUSTRIAL FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 740 N Marr Rd COLUMBUS, IN 47201 |
| Phone: | (812) 372-6091 |
| Fax: | (812) 372-6093 |
| Website: | https://www.busindcu.com |
| Branches: | 2 branch locations |
| Members: | 4,122 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 13940 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1960 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $44,877,206 |
| CEO/Manager: | Aaron J Wilp |
| Chairperson: | Roberta L Mullins |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 7,109,369 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 822,054 |
| Unsecured Loans | 421,269 |
| Other Loans | 13,097,770 |
| TOTAL LOANS | 14,341,094 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -17,336 |
| Land And Building | 560,345 |
| Other Fixed Assets | 40,395 |
| NCUSIF Deposit | 415,625 |
| All Other Assets | 0 |
| TOTAL ASSETS | 44,877,206 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 721 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 60,336 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 8,705,053 |
| Regular shares | 22,838,339 |
| All Other Shares & Deposits | 6,547,400 |
| TOTAL SHARES & DEPOSITS | 38,090,791 |
| TOTAL LIABILITIES | 38,151,848 |
| Regular Reserve | 0 |
| Other Reserves | 1,352,376 |
| Undivided Earnings | 5,372,982 |
| TOTAL EQUITY | 6,725,358 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 44,877,206 |
| INCOME & EXPENSE | |
| Loan Income | 664,115 |
| Investment Income | 829,704 |
| Other Income | 254,247 |
| Total Employee Compensation & Benefits | 599,482 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 829,148 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 9,715 |
| Cost of Funds | 46,669 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 497,868 |
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