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INDEPENDENCE FEDERAL CREDIT UNION

Mar, 31, 2021 — INDEPENDENCE FEDERAL CREDIT UNION is a federal credit union headquartered in INDEPENDENCE, MO with 1 branch location and about $3.16 million in total assets. Opened 58 years ago in 1963, INDEPENDENCE FEDERAL CREDIT UNION has about 511 members offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:INDEPENDENCE FEDERAL CREDIT UNION
Address:
(Main Office)
301 W LEXINGTON AVE STE 260
INDEPENDENCE, MO 64050
Phone:(816) 833-0781
Fax:(816) 833-2496
Website:http://www.independencefcu.com
Branches:1 branch locations
Members:511
Credit Union Type:Federal Credit Union
Charter Number:15509
Membership Type:Multiple common bond - Primarily federal, state, local government
Corporate Credit Union:No
Year Opened:1963
Last Audited:Jul 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$3,155,828
CEO/Manager:Christina L Meaney
Chairperson:GARY FRANKLIN

Call Report

  • Overdraft Lines of Credit
  • Pay Day Loans
  • Risk Based Loans
  • Payday Alternative Loans (PAL Loans)
  • ATM/Debit Card Program
  • Check Cashing
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 884,993
TOTAL INVESTMENTS 618,200
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 123,666
 Other Loans 1,510,379
 TOTAL LOANS 1,634,045
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -18,533
 Land And Building 0
 Other Fixed Assets 0
 NCUSIF Deposit 25,593
 All Other Assets 11,530
  TOTAL ASSETS 3,155,828
LIABILITIES & CAPITAL:  
 Dividends Payable 969
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 2,322
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 663,822
 Regular shares 1,978,919
 All Other Shares & Deposits 295,213
  TOTAL SHARES & DEPOSITS 2,937,954
  TOTAL LIABILITIES 2,941,245
 Regular Reserve 67,070
 Other Reserves 0
 Undivided Earnings 147,513
  TOTAL EQUITY 214,583
  TOTAL LIABILITIES, SHARES, & EQUITY 3,155,828
INCOME & EXPENSE  
 Loan Income 27,467
 Investment Income 79
 Other Income 5,185
 Total Employee Compensation & Benefits 13,354
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 19,401
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense -9,378
 Cost of Funds 524
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 8,830
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