Dec, 31, 2023 — CHIPHONE FEDERAL CREDIT UNION is a federal credit union headquartered in ELKHART, IN with 6 branch locations and about $111.23 million in total assets. Opened 77 years ago in 1947, CHIPHONE FEDERAL CREDIT UNION has about 9,318 members and employs 42 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | CHIPHONE FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 710 N WILDWOOD AVE ELKHART, IN 46514-1876 |
| Phone: | (574) 294-3606 |
| Fax: | (574) 295-0294 |
| Website: | https://www.chiphone.org |
| Branches: | 6 branch locations |
| Members: | 9,318 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 5422 |
|---|---|
| Membership Type: | Multiple common bond - Primarily communications and utilities |
| Corporate Credit Union: | No |
| Year Opened: | 1947 |
| Last Audited: | Jun 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $111,231,904 |
| CEO/Manager: | TRAVIS MAZUR |
| Chairperson: | TERRY MILLER |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 5,338,358 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 18,087,058 |
| Unsecured Loans | 4,581,433 |
| Other Loans | 24,404,947 |
| TOTAL LOANS | 47,073,438 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,173,892 |
| Land And Building | 2,292,753 |
| Other Fixed Assets | 70,291 |
| NCUSIF Deposit | 949,709 |
| All Other Assets | 359,297 |
| TOTAL ASSETS | 111,231,904 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 14,286 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 649,239 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 22,122,906 |
| Regular shares | 50,108,526 |
| All Other Shares & Deposits | 21,345,586 |
| TOTAL SHARES & DEPOSITS | 93,577,018 |
| TOTAL LIABILITIES | 94,240,543 |
| Regular Reserve | 0 |
| Other Reserves | 45,177 |
| Undivided Earnings | 16,946,184 |
| TOTAL EQUITY | 16,991,361 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 111,231,904 |
| INCOME & EXPENSE | |
| Loan Income | 2,737,240 |
| Investment Income | 1,084,169 |
| Other Income | 1,064,303 |
| Total Employee Compensation & Benefits | 2,168,100 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 2,405,366 |
| Non-operating Income & (Expense) | -20,151 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 442,987 |
| Cost of Funds | 314,832 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 697,300 |
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