Sep, 30, 2025 — I B E W LOCAL 56 FEDERAL CREDIT UNION is a federal credit union headquartered in ERIE, PA with 1 branch location and about $10.66 million in total assets. Opened 65 years ago in 1961, I B E W LOCAL 56 FEDERAL CREDIT UNION has about 1,561 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: | I B E W LOCAL 56 FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 962 W 20TH ST ERIE, PA 16502-2401 |
| Phone: | (814) 455-2270 |
| Fax: | (814) 455-4307 |
| Website: | https://www.ibew56fcu.org |
| Branches: | 1 branch locations |
| Members: | 1,561 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 14247 |
|---|---|
| Membership Type: | Multiple common bond - Primarily finance, insurance, real estate, trade |
| Corporate Credit Union: | No |
| Year Opened: | 1961 |
| Last Audited: | Jun 01, 2025 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $10,657,340 |
| CEO/Manager: | Charlene M Hedderick |
| Chairperson: | Christian M Kossbiel |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 995,124 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 1,513,402 |
| Unsecured Loans | 241,139 |
| Other Loans | 3,162,718 |
| TOTAL LOANS | 4,917,259 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -32,968 |
| Land And Building | 11,909 |
| Other Fixed Assets | 10,387 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 97,806 |
| All Other Assets | 0 |
| TOTAL ASSETS | 10,657,340 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 7,793 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 17,028 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 1,303,361 |
| Regular shares | 6,480,996 |
| All Other Shares & Deposits | 1,532,262 |
| TOTAL SHARES & DEPOSITS | 9,316,619 |
| TOTAL LIABILITIES | 9,341,440 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 1,315,900 |
| TOTAL EQUITY | 1,315,900 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 10,657,340 |
| INCOME & EXPENSE | |
| Loan Income | 215,542 |
| Investment Income | 178,662 |
| Other Income | 22,674 |
| Total Employee Compensation & Benefits | 116,111 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 123,155 |
| Non-operating Income & (Expense) | 2,790 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 1,515 |
| Cost of Funds | 42,739 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 139,058 |
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