Dec, 31, 2023 — INSTEP CREDIT UNION is a federal credit union headquartered in NEW ORLEANS, LA with 2 branch locations and about $46.86 million in total assets. Opened 76 years ago in 1948, INSTEP CREDIT UNION has about 5,139 members and employs 24 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | INSTEP CREDIT UNION |
|---|---|
| Address: (Main Office) | 400 Russell Ave Bldg 509 NEW ORLEANS, LA 70143-5077 |
| Phone: | (504) 678-3563 |
| Fax: | (504) 678-3901 |
| Website: | https://www.instepmembers.com |
| Branches: | 2 branch locations |
| Members: | 5,139 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 24951 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1948 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $46,864,620 |
| CEO/Manager: | Helen S Delin |
| Chairperson: | Emanuel Stevenson |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 3,866,540 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 844,889 |
| Unsecured Loans | 7,795,016 |
| Other Loans | 27,366,157 |
| TOTAL LOANS | 36,006,062 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -573,923 |
| Land And Building | 4,466,373 |
| Other Fixed Assets | 345,192 |
| NCUSIF Deposit | 409,179 |
| All Other Assets | 168,968 |
| TOTAL ASSETS | 46,864,620 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 775,273 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 11,807,052 |
| Regular shares | 23,421,957 |
| All Other Shares & Deposits | 3,306,172 |
| TOTAL SHARES & DEPOSITS | 38,535,182 |
| TOTAL LIABILITIES | 39,310,455 |
| Regular Reserve | 0 |
| Other Reserves | 1,757,491 |
| Undivided Earnings | 5,796,674 |
| TOTAL EQUITY | 7,554,165 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 46,864,620 |
| INCOME & EXPENSE | |
| Loan Income | 2,582,697 |
| Investment Income | 142,492 |
| Other Income | 1,156,248 |
| Total Employee Compensation & Benefits | 1,571,881 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 2,523,194 |
| Non-operating Income & (Expense) | 398,380 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 231,006 |
| Cost of Funds | 363,487 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 107,398 |
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