Jun, 30, 2024 — INDIANA LAKES FEDERAL CREDIT UNION is a federal credit union headquartered in WARSAW, IN with 1 branch location and about $26.99 million in total assets. Opened 48 years ago in 1977, INDIANA LAKES FEDERAL CREDIT UNION has about 2,012 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) | 322 S Detroit St WARSAW, IN 46580-4401 |
| Phone: | (574) 267-7497 |
| Fax: | (574) 269-9509 |
| Website: | https://www.ilfcu.org |
| Branches: | 1 branch locations |
| Members: | 2,012 |
| 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: | Jun 01, 2021 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $26,986,897 |
| CEO/Manager: | David B Brumbaugh |
| Chairperson: | Matthew Reinholt |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 573,073 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 10,413,415 |
| Unsecured Loans | 443,942 |
| Other Loans | 3,144,447 |
| TOTAL LOANS | 14,001,804 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -14,973 |
| Land And Building | 104,753 |
| Other Fixed Assets | 79,828 |
| NCUSIF Deposit | 244,854 |
| All Other Assets | 0 |
| TOTAL ASSETS | 26,986,897 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 4,082 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 66,671 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 5,445,081 |
| Regular shares | 11,489,724 |
| All Other Shares & Deposits | 6,980,658 |
| TOTAL SHARES & DEPOSITS | 23,915,463 |
| TOTAL LIABILITIES | 23,986,216 |
| Regular Reserve | 0 |
| Other Reserves | 326,585 |
| Undivided Earnings | 2,674,096 |
| TOTAL EQUITY | 3,000,681 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 26,986,897 |
| INCOME & EXPENSE | |
| Loan Income | 329,960 |
| Investment Income | 110,522 |
| Other Income | 21,027 |
| Total Employee Compensation & Benefits | 234,372 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 227,568 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 11,164 |
| Cost of Funds | 48,143 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 53,887 |
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