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GENERATIONS FEDERAL CREDIT UNION

Dec, 31, 2020 — GENERATIONS FEDERAL CREDIT UNION is a federal credit union headquartered in LA PORTE, IN with 1 branch location and about $11.87 million in total assets. Opened 43 years ago in 1978, GENERATIONS FEDERAL CREDIT UNION has about 1,454 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:http://laportegenerationsfederalcreditunion.com/
Branches:1 branch locations
Members:1,454
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:Sep 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$11,871,380
CEO/Manager:Catherine S Seymour
Chairperson:WENDELL W WILTFONG

Call Report

  • Overdraft Lines of Credit
  • Overdraft Protection
  • Real Estate Loans
  • Risk Based Loans
  • Share Secured Credit Cards
  • 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 3,206,082
TOTAL INVESTMENTS 4,418,353
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 435,875
 Other Loans 3,475,127
 TOTAL LOANS 3,963,794
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -3,126
 Land And Building 136,832
 Other Fixed Assets 28,448
 NCUSIF Deposit 91,204
 All Other Assets 29,793
  TOTAL ASSETS 11,871,380
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 26,501
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 1,690,217
 Regular shares 8,089,466
 All Other Shares & Deposits 1,015,687
  TOTAL SHARES & DEPOSITS 10,795,370
  TOTAL LIABILITIES 10,821,871
 Regular Reserve 199,809
 Other Reserves 27,499
 Undivided Earnings 822,201
  TOTAL EQUITY 1,049,509
  TOTAL LIABILITIES, SHARES, & EQUITY 11,871,380
INCOME & EXPENSE  
 Loan Income 231,108
 Investment Income 87,890
 Other Income 103,862
 Total Employee Compensation & Benefits 206,449
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 202,034
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 150
 Cost of Funds 9,877
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 4,350
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