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INDUSTRIAL FEDERAL CREDIT UNION

Mar, 31, 2021 — INDUSTRIAL FEDERAL CREDIT UNION is a federal credit union headquartered in LAFAYETTE, IN with 10 branch locations and about $283.88 million in total assets. Opened 38 years ago in 1983, INDUSTRIAL FEDERAL CREDIT UNION has about 29,818 members and employs 108 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:INDUSTRIAL FEDERAL CREDIT UNION
Address:
(Main Office)
1115 SAGAMORE PKWY S
LAFAYETTE, IN 47905
Phone:(765) 771-8000
Fax:(765) 448-1891
Website:http://www.ifcu.com
Branches:10 branch locations
Members:29,818
Credit Union Type:Federal Credit Union
Charter Number:24026
Membership Type:Multiple common bond - Primarily machinery
Corporate Credit Union:No
Year Opened:1983
Last Audited:Dec 01, 2020
FHLB Member:Yes
Low Income Designation:No
Assets:$283,879,031
CEO/Manager:Kevin E Umlauf
Chairperson:Albert L Davis, Jr.

Call Report

  • Commercial Loans
  • Indirect Consumer Loans
  • Micro Business Loans
  • Micro Consumer Loans
  • 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
  • First Time Homebuyer Program
  • Health Savings Accounts
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 55,592,693
TOTAL INVESTMENTS 66,937,836
Loans Held for Sale 0
 
 Real Estate Loans 44,683,233
 Unsecured Loans 12,376,925
 Other Loans 96,597,180
 TOTAL LOANS 153,657,338
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -631,746
 Land And Building 2,557,556
 Other Fixed Assets 1,404,957
 NCUSIF Deposit 2,282,073
 All Other Assets 2,078,324
  TOTAL ASSETS 283,879,031
LIABILITIES & CAPITAL:  
 Dividends Payable 50,806
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 3,411,103
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 58,607,326
 Regular shares 87,959,119
 All Other Shares & Deposits 111,460,912
  TOTAL SHARES & DEPOSITS 258,027,357
  TOTAL LIABILITIES 261,489,266
 Regular Reserve 2,306,409
 Other Reserves 5,449,805
 Undivided Earnings 14,633,551
  TOTAL EQUITY 22,389,765
  TOTAL LIABILITIES, SHARES, & EQUITY 283,879,031
INCOME & EXPENSE  
 Loan Income 1,918,964
 Investment Income 135,949
 Other Income 263,559
 Total Employee Compensation & Benefits 1,619,269
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 1,107,294
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 24,004
 Cost of Funds 187,846
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 395,910
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