Dec, 31, 2023 — GREATER IOWA CREDIT UNION is a federally insured state chartered credit union headquartered in AMES, IA with 9 branch locations and about $644.34 million in total assets. Opened 92 years ago in 1932, GREATER IOWA CREDIT UNION has about 36,796 members and employs 139 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | GREATER IOWA CREDIT UNION |
|---|---|
| Address: (Main Office) | 1509 Baltimore Dr AMES, IA 50010 |
| Phone: | (800) 296-9064 |
| Fax: | |
| Website: | https://www.gicu.org |
| Branches: | 9 branch locations |
| Members: | 36,796 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 64203 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1932 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $644,335,476 |
| CEO/Manager: | Scott Zahnle |
| Chairperson: | Robert J Bowers |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 38,086,703 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 724,828 |
| Real Estate Loans | 203,485,334 |
| Unsecured Loans | 23,122,238 |
| Other Loans | 321,113,684 |
| TOTAL LOANS | 547,721,257 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -2,535,995 |
| Land And Building | 16,663,949 |
| Other Fixed Assets | 1,612,086 |
| NCUSIF Deposit | 5,432,403 |
| All Other Assets | 46,000 |
| TOTAL ASSETS | 644,335,476 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 8,797,470 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 3,500,000 |
| Share Drafts | 164,724,230 |
| Regular shares | 178,028,334 |
| All Other Shares & Deposits | 236,428,475 |
| TOTAL SHARES & DEPOSITS | 579,181,039 |
| TOTAL LIABILITIES | 591,478,509 |
| Regular Reserve | 0 |
| Other Reserves | 22,355,304 |
| Undivided Earnings | 30,501,663 |
| TOTAL EQUITY | 52,856,967 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 644,335,476 |
| INCOME & EXPENSE | |
| Loan Income | 27,386,005 |
| Investment Income | 1,111,122 |
| Other Income | 2,281,119 |
| Total Employee Compensation & Benefits | 11,787,538 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 13,257,504 |
| Non-operating Income & (Expense) | 38,727 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 2,355,945 |
| Cost of Funds | 6,411,990 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 2,081,965 |
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