Dec, 31, 2022 — I B E W LOCAL 56 FEDERAL CREDIT UNION is a federal credit union headquartered in ERIE, PA with 1 branch location and about $11.82 million in total assets. Opened 62 years ago in 1961, I B E W LOCAL 56 FEDERAL CREDIT UNION has about 1,602 members and employs 3 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://ibew56fcu.org |
| Branches: | 1 branch locations |
| Members: | 1,602 |
| 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, 2021 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $11,822,482 |
| CEO/Manager: | Charlene M Hedderick |
| Chairperson: | Christian M Kossbiel |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 588,789 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 1,135,275 |
| Unsecured Loans | 212,294 |
| Other Loans | 3,007,956 |
| TOTAL LOANS | 4,355,525 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -14,302 |
| Land And Building | 10,350 |
| Other Fixed Assets | 8,229 |
| NCUSIF Deposit | 103,960 |
| All Other Assets | 0 |
| TOTAL ASSETS | 11,822,482 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 2,793 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 9,462 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 1,474,063 |
| Regular shares | 8,232,822 |
| All Other Shares & Deposits | 1,247,618 |
| TOTAL SHARES & DEPOSITS | 10,954,503 |
| TOTAL LIABILITIES | 10,966,758 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 855,724 |
| TOTAL EQUITY | 855,724 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 11,822,482 |
| INCOME & EXPENSE | |
| Loan Income | 133,608 |
| Investment Income | 51,414 |
| Other Income | 24,996 |
| Total Employee Compensation & Benefits | 80,484 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 112,731 |
| Non-operating Income & (Expense) | 9,406 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
| Cost of Funds | 10,519 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 17,877 |
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