Sep, 30, 2025 — INDUSTRIAL FEDERAL CREDIT UNION is a federal credit union headquartered in LAFAYETTE, IN with 9 branch locations and about $333.64 million in total assets. Opened 43 years ago in 1983, INDUSTRIAL FEDERAL CREDIT UNION has about 31,825 members and employs 97 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: | https://www.ifcu.com |
| Branches: | 9 branch locations |
| Members: | 31,825 |
| 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, 2024 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $333,637,019 |
| CEO/Manager: | Kevin E Umlauf |
| Chairperson: | Albert L Davis, Jr. |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 45,404,278 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 63,420,550 |
| Unsecured Loans | 22,177,189 |
| Other Loans | 150,941,791 |
| TOTAL LOANS | 236,539,529 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -2,497,076 |
| Land And Building | 2,113,798 |
| Other Fixed Assets | 568,025 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 2,781,276 |
| All Other Assets | 141,729 |
| TOTAL ASSETS | 333,637,019 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 376,700 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 2,644,354 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 52,146,428 |
| Regular shares | 81,350,895 |
| All Other Shares & Deposits | 167,407,779 |
| TOTAL SHARES & DEPOSITS | 300,905,102 |
| TOTAL LIABILITIES | 304,038,985 |
| Regular Reserve | 0 |
| Other Reserves | 5,449,805 |
| Undivided Earnings | 24,148,229 |
| TOTAL EQUITY | 29,598,034 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 333,637,019 |
| INCOME & EXPENSE | |
| Loan Income | 12,598,978 |
| Investment Income | 2,078,939 |
| Other Income | 1,315,202 |
| Total Employee Compensation & Benefits | 5,958,672 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 5,660,148 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 1,603,162 |
| Cost of Funds | 3,067,893 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 2,267,783 |
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