Sep, 30, 2025 — LINN AREA CREDIT UNION is a federally insured state chartered credit union headquartered in CEDAR RAPIDS, IA with 5 branch locations and about $724.00 million in total assets. Opened 91 years ago in 1935, LINN AREA CREDIT UNION has about 26,343 members and employs 110 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | LINN AREA CREDIT UNION |
|---|---|
| Address: (Main Office) | 3015 Blairs Ferry Rd NE CEDAR RAPIDS, IA 52402 |
| Phone: | (319) 892-7300 |
| Fax: | |
| Website: | https://www.cordacu.org |
| Branches: | 5 branch locations |
| Members: | 26,343 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 63602 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1935 |
| Last Audited: | Dec 01, 2024 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $723,995,975 |
| CEO/Manager: | Paula O'Rourke |
| Chairperson: | Joyce Fowler |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 22,834,962 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 943,600 |
| Real Estate Loans | 253,788,851 |
| Unsecured Loans | 19,492,202 |
| Other Loans | 345,737,308 |
| TOTAL LOANS | 619,137,583 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -2,774,622 |
| Land And Building | 16,716,374 |
| Other Fixed Assets | 2,154,449 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 4,574,952 |
| All Other Assets | 92,208 |
| TOTAL ASSETS | 723,995,975 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 80,563 |
| Notes & Interest Payable | 89,845,000 |
| Accounts Payable & Other Liabilities | 5,323,492 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 143,285,922 |
| Regular shares | 109,696,124 |
| All Other Shares & Deposits | 306,648,425 |
| TOTAL SHARES & DEPOSITS | 559,630,471 |
| TOTAL LIABILITIES | 654,879,526 |
| Regular Reserve | 0 |
| Other Reserves | 22,616,176 |
| Undivided Earnings | 46,500,273 |
| TOTAL EQUITY | 69,116,449 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 723,995,975 |
| INCOME & EXPENSE | |
| Loan Income | 28,835,406 |
| Investment Income | 1,633,015 |
| Other Income | 1,116,440 |
| Total Employee Compensation & Benefits | 7,858,583 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 14,230,514 |
| Non-operating Income & (Expense) | 427,399 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 3,090,595 |
| Cost of Funds | 11,555,455 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -2,073,333 |
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