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INSPIRE FEDERAL CREDIT UNION

Mar, 31, 2021 — INSPIRE FEDERAL CREDIT UNION is a federal credit union headquartered in NEWTOWN, PA with 4 branch locations and about $250.85 million in total assets. Opened 85 years ago in 1936, INSPIRE FEDERAL CREDIT UNION has about 14,404 members and employs 34 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 231379775
Name:INSPIRE FEDERAL CREDIT UNION
Address:
(Main Office)
3 FRIENDS LN
NEWTOWN, PA 18940
Phone:(215) 788-5270
Fax:(267) 545-0142
Website:http://www.inspirefcu.org
Branches:4 branch locations
Members:14,404
Credit Union Type:Federal Credit Union
Charter Number:1759
Membership Type:Community credit unions, urban or rural, other than those designated 'low income'
Corporate Credit Union:No
Year Opened:1936
Last Audited:Dec 01, 2020
FHLB Member:Yes
Low Income Designation:No
Assets:$250,848,354
CEO/Manager:James M Merrill
Chairperson:Chichi E Ahia

Call Report

  • Commercial Loans
  • Credit Builder
  • Indirect Consumer Loans
  • Interest Only or Payment Option 1st Mortgage Loans
  • Overdraft Lines of Credit
  • Overdraft Protection
  • Participation Loans
  • Real Estate Loans
  • Risk Based Loans
  • Share Secured Credit Cards
  • Payday Alternative Loans (PAL Loans)
  • ATM/Debit Card Program
  • Commercial Share Accounts
  • Check Cashing
  • First Time Homebuyer Program
  • Insurance/Investment Sales
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 54,589,010
TOTAL INVESTMENTS 5,962,448
Loans Held for Sale 0
 
 Real Estate Loans 98,037,721
 Unsecured Loans 31,276,083
 Other Loans 39,383,904
 TOTAL LOANS 168,697,708
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -626,970
 Land And Building 8,712,876
 Other Fixed Assets 372,730
 NCUSIF Deposit 1,663,513
 All Other Assets 11,477,039
  TOTAL ASSETS 250,848,354
LIABILITIES & CAPITAL:  
 Dividends Payable 50,120
 Notes & Interest Payable 31,500,000
 Accounts Payable & Other Liabilities 6,080,898
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 7,000,000
 Share Drafts 42,003,680
 Regular shares 56,346,029
 All Other Shares & Deposits 92,575,151
  TOTAL SHARES & DEPOSITS 190,924,860
  TOTAL LIABILITIES 235,555,878
 Regular Reserve 1,567,292
 Other Reserves -1,983
 Undivided Earnings 13,727,167
  TOTAL EQUITY 15,292,476
  TOTAL LIABILITIES, SHARES, & EQUITY 250,848,354
INCOME & EXPENSE  
 Loan Income 1,965,534
 Investment Income 61,557
 Other Income 192,100
 Total Employee Compensation & Benefits 687,857
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 1,086,882
 Non-operating Income & (Expense) 161,694
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense -15,000
 Cost of Funds 412,614
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 542,917
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