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INDEPENDENT FEDERAL CREDIT UNION

Dec, 31, 2023 — INDEPENDENT FEDERAL CREDIT UNION is a federal credit union headquartered in ANDERSON, IN with 1 branch location and about $89.11 million in total assets. Opened 53 years ago in 1971, INDEPENDENT FEDERAL CREDIT UNION has about 6,517 members and employs 25 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:https://www.independentfcu.org
Branches:1 branch locations
Members:6,517
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, 2023
FHLB Member:Yes
Low Income Designation:No
Assets:$89,106,892
CEO/Manager:Connie Lodde
Chairperson:Chad M Clark

Call Report

  • Payday Alternative Loans (PAL Loans)
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 5,554,155
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 16,738,299
 Unsecured Loans 1,307,969
 Other Loans 44,195,784
 TOTAL LOANS 62,242,052
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -431,808
 Land And Building 3,815,296
 Other Fixed Assets 329,088
 NCUSIF Deposit 799,866
 All Other Assets 0
  TOTAL ASSETS 89,106,892
LIABILITIES & CAPITAL:  
 Dividends Payable 19,709
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 847,108
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 17,923,206
 Regular shares 50,173,529
 All Other Shares & Deposits 11,533,904
  TOTAL SHARES & DEPOSITS 79,630,639
  TOTAL LIABILITIES 80,497,456
 Regular Reserve 0
 Other Reserves 2,360,400
 Undivided Earnings 6,249,036
  TOTAL EQUITY 8,609,436
  TOTAL LIABILITIES, SHARES, & EQUITY 89,106,892
INCOME & EXPENSE  
 Loan Income 2,949,480
 Investment Income 379,233
 Other Income 832,685
 Total Employee Compensation & Benefits 1,432,685
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 1,948,324
 Non-operating Income & (Expense) 31,940
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 56,042
 Cost of Funds 124,090
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 1,172,380
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