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GENERATIONS FEDERAL CREDIT UNION

Dec, 31, 2023 — GENERATIONS FEDERAL CREDIT UNION is a federal credit union headquartered in LA PORTE, IN with 1 branch location and about $12.61 million in total assets. Opened 46 years ago in 1978, GENERATIONS FEDERAL CREDIT UNION has about 1,457 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:GENERATIONS FEDERAL CREDIT UNION
Address:
(Main Office)
706 BOYD BLVD
LA PORTE, IN 46350
Phone:(219) 326-5311
Fax:(219) 326-0045
Website:https://laportegenerationsfederalcreditunion.com/
Branches:1 branch locations
Members:1,457
Credit Union Type:Federal Credit Union
Charter Number:23156
Membership Type:Multiple common bond - Primarily primary and fabricated metals
Corporate Credit Union:No
Year Opened:1978
Last Audited:Dec 01, 2023
FHLB Member:No
Low Income Designation:No
Assets:$12,613,206
CEO/Manager:JULIE A BABINEC
Chairperson:WENDELL W WILTFONG

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 429,229
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 488,624
 Other Loans 6,338,183
 TOTAL LOANS 6,830,104
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -5,126
 Land And Building 104,756
 Other Fixed Assets 31,297
 NCUSIF Deposit 122,601
 All Other Assets 0
  TOTAL ASSETS 12,613,206
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 315,000
 Accounts Payable & Other Liabilities 25,952
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 1,866,375
 Regular shares 8,191,708
 All Other Shares & Deposits 863,842
  TOTAL SHARES & DEPOSITS 10,921,925
  TOTAL LIABILITIES 11,262,877
 Regular Reserve 0
 Other Reserves 27,499
 Undivided Earnings 1,322,830
  TOTAL EQUITY 1,350,329
  TOTAL LIABILITIES, SHARES, & EQUITY 12,613,206
INCOME & EXPENSE  
 Loan Income 321,278
 Investment Income 137,884
 Other Income 122,008
 Total Employee Compensation & Benefits 184,512
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 234,957
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 13,400
 Cost of Funds 58,979
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 127,450
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