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INDIANA LAKES FEDERAL CREDIT UNION

Mar, 31, 2021 — INDIANA LAKES FEDERAL CREDIT UNION is a federal credit union headquartered in WARSAW, IN with 1 branch location and about $28.41 million in total assets. Opened 44 years ago in 1977, INDIANA LAKES FEDERAL CREDIT UNION has about 2,030 members and employs 6 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:INDIANA LAKES FEDERAL CREDIT UNION
Address:
(Main Office)
P.O. BOX 1064
WARSAW, IN 46581
Phone:(574) 267-7497
Fax:(574) 269-9509
Website:http://www.ilfcu.org
Branches:1 branch locations
Members:2,030
Credit Union Type:Federal Credit Union
Charter Number:22704
Membership Type:Community credit unions, urban or rural, other than those designated 'low income'
Corporate Credit Union:No
Year Opened:1977
Last Audited:Nov 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$28,408,462
CEO/Manager:David B Brumbaugh
Chairperson:Denny Duncan

Call Report

  • Commercial Loans
  • Real Estate Loans
  • Risk Based Loans
  • ATM/Debit Card Program
  • Commercial Share Accounts
  • Check Cashing
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 7,387,552
TOTAL INVESTMENTS 7,143,843
Loans Held for Sale 0
 
 Real Estate Loans 10,030,374
 Unsecured Loans 500,646
 Other Loans 2,846,164
 TOTAL LOANS 13,377,184
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -30,579
 Land And Building 114,764
 Other Fixed Assets 56,301
 NCUSIF Deposit 187,549
 All Other Assets 171,848
  TOTAL ASSETS 28,408,462
LIABILITIES & CAPITAL:  
 Dividends Payable 4,389
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 82,004
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 6,064,747
 Regular shares 11,323,214
 All Other Shares & Deposits 8,116,768
  TOTAL SHARES & DEPOSITS 25,504,729
  TOTAL LIABILITIES 25,591,122
 Regular Reserve 326,585
 Other Reserves 0
 Undivided Earnings 2,490,755
  TOTAL EQUITY 2,817,340
  TOTAL LIABILITIES, SHARES, & EQUITY 28,408,462
INCOME & EXPENSE  
 Loan Income 120,265
 Investment Income 34,054
 Other Income 7,087
 Total Employee Compensation & Benefits 77,205
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 69,621
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 2,499
 Cost of Funds 26,150
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 15,127
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