Sep, 30, 2025 — IC FEDERAL CREDIT UNION is a federal credit union headquartered in FITCHBURG, MA with 6 branch locations and about $529.73 million in total assets. Opened 92 years ago in 1934, IC FEDERAL CREDIT UNION has about 36,594 members and employs 109 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | IC FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 300 Bemis Rd FITCHBURG, MA 01420 |
| Phone: | (978) 343-3725 |
| Fax: | (978) 348-1457 |
| Website: | https://www.iccreditunion.org |
| Branches: | 6 branch locations |
| Members: | 36,594 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 24250 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1934 |
| Last Audited: | Dec 01, 2024 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $529,725,445 |
| CEO/Manager: | Christopher P Hendry |
| Chairperson: | Ernest F Houle |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 44,551,904 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 272,313,122 |
| Unsecured Loans | 6,672,042 |
| Other Loans | 118,694,281 |
| TOTAL LOANS | 397,679,446 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -5,899,076 |
| Land And Building | 2,225,631 |
| Other Fixed Assets | 3,437,741 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 4,702,519 |
| All Other Assets | 0 |
| TOTAL ASSETS | 529,725,445 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 1,197,007 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 5,656,706 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 158,220,520 |
| Regular shares | 176,239,144 |
| All Other Shares & Deposits | 156,530,039 |
| TOTAL SHARES & DEPOSITS | 490,989,703 |
| TOTAL LIABILITIES | 497,843,416 |
| Regular Reserve | 0 |
| Other Reserves | -17,212,353 |
| Undivided Earnings | 49,094,382 |
| TOTAL EQUITY | 31,882,029 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 529,725,445 |
| INCOME & EXPENSE | |
| Loan Income | 13,523,433 |
| Investment Income | 2,597,499 |
| Other Income | 1,136,604 |
| Total Employee Compensation & Benefits | 8,544,895 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 7,315,885 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 749,997 |
| Cost of Funds | 3,847,984 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -1,665,202 |
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