Dec, 31, 2023 — I. H. MISSISSIPPI VALLEY CREDIT UNION is a federally insured state chartered credit union headquartered in MOLINE, IL with 13 branch locations and about $2.14 billion in total assets. Opened 88 years ago in 1936, I. H. MISSISSIPPI VALLEY CREDIT UNION has about 143,655 members and employs 437 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | I. H. MISSISSIPPI VALLEY CREDIT UNION |
|---|---|
| Address: (Main Office) | 2500 River Dr MOLINE, IL 61265-1670 |
| Phone: | (309) 793-6200 |
| Fax: | |
| Website: | https://www.ihmvcu.org |
| Branches: | 13 branch locations |
| Members: | 143,655 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 60337 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1936 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $2,139,207,808 |
| CEO/Manager: | Brian Laufenberg |
| Chairperson: | Sam Kupresin |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 194,571,247 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 1,020,358 |
| Real Estate Loans | 585,526,689 |
| Unsecured Loans | 80,228,182 |
| Other Loans | 1,022,988,392 |
| TOTAL LOANS | 1,689,277,450 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -25,767,459 |
| Land And Building | 47,646,130 |
| Other Fixed Assets | 9,320,674 |
| NCUSIF Deposit | 16,003,066 |
| All Other Assets | 103,805 |
| TOTAL ASSETS | 2,139,207,808 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 1,334,503 |
| Notes & Interest Payable | 122,300,755 |
| Accounts Payable & Other Liabilities | 28,454,839 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 442,069,115 |
| Regular shares | 434,024,949 |
| All Other Shares & Deposits | 935,528,862 |
| TOTAL SHARES & DEPOSITS | 1,811,622,926 |
| TOTAL LIABILITIES | 1,963,966,322 |
| Regular Reserve | 0 |
| Other Reserves | -11,212,937 |
| Undivided Earnings | 186,454,423 |
| TOTAL EQUITY | 175,241,486 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 2,139,207,808 |
| INCOME & EXPENSE | |
| Loan Income | 90,259,602 |
| Investment Income | 8,102,593 |
| Other Income | 14,274,047 |
| Total Employee Compensation & Benefits | 36,745,554 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 33,387,249 |
| Non-operating Income & (Expense) | 14,975 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 16,210,620 |
| Cost of Funds | 35,150,789 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 9,794,483 |
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