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 |
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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 |
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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 |
ASSETS: | $ Amount |
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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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