Sep, 30, 2025 — TEAMSTERS LOCAL #238 CREDIT UNION is a federally insured state chartered credit union headquartered in CEDAR RAPIDS, IA with 1 branch location and about $7.44 million in total assets. Opened 71 years ago in 1955, TEAMSTERS LOCAL #238 CREDIT UNION has about 1,743 members and employs 3 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | TEAMSTERS LOCAL #238 CREDIT UNION |
|---|---|
| Address: (Main Office) | 5050 J St SW CEDAR RAPIDS, IA 52404 |
| Phone: | (319) 363-8247 |
| Fax: | (319) 363-9059 |
| Website: | https://www.teamsterslocal238cu.org |
| Branches: | 1 branch locations |
| Members: | 1,743 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 65606 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1955 |
| Last Audited: | Feb 01, 2025 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $7,440,015 |
| CEO/Manager: | Eric M Sorensen |
| Chairperson: | Gregory L Hearns |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,393,033 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 119,847 |
| Other Loans | 3,035,679 |
| TOTAL LOANS | 3,155,527 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -15,174 |
| Land And Building | 0 |
| Other Fixed Assets | 0 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 71,926 |
| All Other Assets | 0 |
| TOTAL ASSETS | 7,440,015 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 203 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 71,006 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 1,539,313 |
| Regular shares | 2,621,147 |
| All Other Shares & Deposits | 2,722,607 |
| TOTAL SHARES & DEPOSITS | 6,883,066 |
| TOTAL LIABILITIES | 6,954,275 |
| Regular Reserve | 0 |
| Other Reserves | 291,531 |
| Undivided Earnings | 194,209 |
| TOTAL EQUITY | 485,740 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 7,440,015 |
| INCOME & EXPENSE | |
| Loan Income | 166,243 |
| Investment Income | 138,037 |
| Other Income | 12,716 |
| Total Employee Compensation & Benefits | 147,097 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 148,582 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 11,500 |
| Cost of Funds | 10,614 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,151 |
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