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National Credit Union Service Organization

INDEPENDENT FEDERAL CREDIT UNION

Dec, 31, 2020 — INDEPENDENT FEDERAL CREDIT UNION is a federal credit union headquartered in ANDERSON, IN with 1 branch location and about $82.29 million in total assets. Opened 50 years ago in 1971, INDEPENDENT FEDERAL CREDIT UNION has about 6,623 members and employs 23 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:INDEPENDENT FEDERAL CREDIT UNION
Address:
(Main Office)
3737 S SCATTERFIELD RD
ANDERSON, IN 46013
Phone:(765) 649-9271
Fax:(765) 641-7610
Website:http://www.independentfcu.org
Branches:1 branch locations
Members:6,623
Credit Union Type:Federal Credit Union
Charter Number:24171
Membership Type:Community credit unions, urban or rural, other than those designated 'low income'
Corporate Credit Union:No
Year Opened:1971
Last Audited:Mar 01, 2020
FHLB Member:Yes
Low Income Designation:No
Assets:$82,290,170
CEO/Manager:Connie Lodde
Chairperson:Jerry Speidel

Call Report

  • Indirect Consumer Loans
  • Overdraft Protection
  • Participation Loans
  • Real Estate Loans
  • Risk Based Loans
  • Payday Alternative Loans (PAL Loans)
  • ATM/Debit Card Program
  • Check Cashing
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 15,673,143
TOTAL INVESTMENTS 19,993,805
Loans Held for Sale 0
 
 Real Estate Loans 12,804,323
 Unsecured Loans 1,200,767
 Other Loans 27,570,082
 TOTAL LOANS 41,575,172
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -337,507
 Land And Building 3,986,559
 Other Fixed Assets 245,842
 NCUSIF Deposit 705,118
 All Other Assets 448,038
  TOTAL ASSETS 82,290,170
LIABILITIES & CAPITAL:  
 Dividends Payable 3,351
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 348,036
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 17,347,378
 Regular shares 47,457,574
 All Other Shares & Deposits 10,975,077
  TOTAL SHARES & DEPOSITS 75,780,029
  TOTAL LIABILITIES 76,131,416
 Regular Reserve 2,360,400
 Other Reserves 0
 Undivided Earnings 3,798,354
  TOTAL EQUITY 6,158,754
  TOTAL LIABILITIES, SHARES, & EQUITY 82,290,170
INCOME & EXPENSE  
 Loan Income 2,022,586
 Investment Income 297,221
 Other Income 962,572
 Total Employee Compensation & Benefits 1,353,648
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 1,514,303
 Non-operating Income & (Expense) 28,626
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 218,008
 Cost of Funds 63,825
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 161,221
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