Dec, 31, 2023 — I. U. 7 FEDERAL CREDIT UNION is a federal credit union headquartered in NEW KENSINGTON, PA with 1 branch location and about $25.22 million in total assets. Opened 51 years ago in 1973, I. U. 7 FEDERAL CREDIT UNION has about 1,399 members and employs 5 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. U. 7 FEDERAL CREDIT UNION |
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Address: (Main Office) | 2300 Freeport Rd NEW KENSINGTON, PA 15068-4669 |
Phone: | (724) 339-0635 |
Fax: | (724) 339-0605 |
Website: | https://iu7federalcreditunion.org |
Branches: | 1 branch locations |
Members: | 1,399 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 21140 |
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Membership Type: | Multiple common bond - Primarily educational |
Corporate Credit Union: | No |
Year Opened: | 1973 |
Last Audited: | Mar 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $25,220,936 |
CEO/Manager: | Jordan J Elias |
Chairperson: | John Thomas |
ASSETS: | $ Amount |
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Cash & Equivalents | 638,651 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 6,810,532 |
Unsecured Loans | 678,325 |
Other Loans | 5,663,495 |
TOTAL LOANS | 13,152,354 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -130,402 |
Land And Building | 0 |
Other Fixed Assets | 34,559 |
NCUSIF Deposit | 210,289 |
All Other Assets | 0 |
TOTAL ASSETS | 25,220,936 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 534,647 |
Notes & Interest Payable | 920,000 |
Accounts Payable & Other Liabilities | 10,179 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 0 |
Regular shares | 8,216,805 |
All Other Shares & Deposits | 12,380,708 |
TOTAL SHARES & DEPOSITS | 20,597,513 |
TOTAL LIABILITIES | 22,062,339 |
Regular Reserve | 0 |
Other Reserves | 0 |
Undivided Earnings | 3,158,597 |
TOTAL EQUITY | 3,158,597 |
TOTAL LIABILITIES, SHARES, & EQUITY | 25,220,936 |
INCOME & EXPENSE | |
Loan Income | 564,135 |
Investment Income | 177,622 |
Other Income | 20,712 |
Total Employee Compensation & Benefits | 233,456 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 217,310 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 49,082 |
Cost of Funds | 319,678 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | -60,682 |
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