Sep, 30, 2025 — GALE CREDIT UNION is a federally insured state chartered credit union headquartered in GALESBURG, IL with 3 branch locations and about $65.43 million in total assets. Opened 79 years ago in 1947, GALE CREDIT UNION has about 4,735 members and employs 22 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | GALE CREDIT UNION |
|---|---|
| Address: (Main Office) | 631 N Henderson St GALESBURG, IL 61401 |
| Phone: | (309) 343-1777 |
| Fax: | (309) 343-2497 |
| Website: | https://www.galecu.net |
| Branches: | 3 branch locations |
| Members: | 4,735 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 60327 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1947 |
| Last Audited: | Jun 01, 2025 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $65,433,918 |
| CEO/Manager: | Randy D McElwee |
| Chairperson: | James McNabb |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,727,494 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 17,354,092 |
| Unsecured Loans | 2,721,525 |
| Other Loans | 20,941,201 |
| TOTAL LOANS | 41,016,818 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -210,769 |
| Land And Building | 1,214,166 |
| Other Fixed Assets | 53,305 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 511,419 |
| All Other Assets | 0 |
| TOTAL ASSETS | 65,433,918 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 211,838 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 9,070,562 |
| Regular shares | 24,710,984 |
| All Other Shares & Deposits | 24,049,161 |
| TOTAL SHARES & DEPOSITS | 57,830,707 |
| TOTAL LIABILITIES | 58,042,545 |
| Regular Reserve | 0 |
| Other Reserves | 1,875,837 |
| Undivided Earnings | 5,515,536 |
| TOTAL EQUITY | 7,391,373 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 65,433,918 |
| INCOME & EXPENSE | |
| Loan Income | 1,985,860 |
| Investment Income | 534,353 |
| Other Income | 445,801 |
| Total Employee Compensation & Benefits | 917,013 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 879,250 |
| Non-operating Income & (Expense) | 85,231 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 117,000 |
| Cost of Funds | 644,814 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 493,168 |
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