Sep, 30, 2025 — GALESBURG BURLINGTON CREDIT UNION is a federally insured state chartered credit union headquartered in GALESBURG, IL with 1 branch location and about $53.16 million in total assets. Opened 89 years ago in 1937, GALESBURG BURLINGTON CREDIT UNION has about 3,329 members and employs 5 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | GALESBURG BURLINGTON CREDIT UNION |
|---|---|
| Address: (Main Office) | 476 E South St GALESBURG, IL 61401 |
| Phone: | (309) 342-1775 |
| Fax: | (309) 342-9213 |
| Website: | https://www.gbcu.net |
| Branches: | 1 branch locations |
| Members: | 3,329 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 65712 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1937 |
| Last Audited: | Sep 01, 2024 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $53,163,921 |
| CEO/Manager: | Brad A Gummerson |
| Chairperson: | Steven K Specht |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 5,773,005 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 667,632 |
| Unsecured Loans | 4,270,738 |
| Other Loans | 21,233,250 |
| TOTAL LOANS | 26,171,620 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -292,723 |
| Land And Building | 289,812 |
| Other Fixed Assets | 55,846 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 326,111 |
| All Other Assets | 0 |
| TOTAL ASSETS | 53,163,921 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 115,740 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 79,379 |
| Regular shares | 28,306,377 |
| All Other Shares & Deposits | 9,074,469 |
| TOTAL SHARES & DEPOSITS | 37,460,225 |
| TOTAL LIABILITIES | 37,575,965 |
| Regular Reserve | 0 |
| Other Reserves | 677,196 |
| Undivided Earnings | 14,910,760 |
| TOTAL EQUITY | 15,587,956 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 53,163,921 |
| INCOME & EXPENSE | |
| Loan Income | 1,300,016 |
| Investment Income | 570,165 |
| Other Income | 2,234 |
| Total Employee Compensation & Benefits | 362,694 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 395,193 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 106,460 |
| Cost of Funds | 486,936 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 557,152 |
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