Sep, 30, 2025 — INDUSTRIAL CREDIT UNION is a federally insured state chartered credit union headquartered in BELLINGHAM, WA with 6 branch locations and about $395.97 million in total assets. Opened 85 years ago in 1941, INDUSTRIAL CREDIT UNION has about 33,592 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: | INDUSTRIAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 1100 N State St BELLINGHAM, WA 98225-5014 |
| Phone: | (360) 734-2043 |
| Fax: | (360) 738-4937 |
| Website: | https://www.industrialcu.com |
| Branches: | 6 branch locations |
| Members: | 33,592 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 66337 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1941 |
| Last Audited: | Dec 01, 2024 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $395,972,152 |
| CEO/Manager: | Brandon Hahnel |
| Chairperson: | Nikole E Knauft |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 58,880,105 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 112,809,398 |
| Unsecured Loans | 17,178,972 |
| Other Loans | 126,629,911 |
| TOTAL LOANS | 256,618,281 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -4,359,916 |
| Land And Building | 5,660,879 |
| Other Fixed Assets | 1,230,146 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 3,241,871 |
| All Other Assets | 375,616 |
| TOTAL ASSETS | 395,972,152 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 102,327 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 4,770,766 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 14,000,000 |
| Share Drafts | 87,751,197 |
| Regular shares | 189,980,611 |
| All Other Shares & Deposits | 68,168,247 |
| TOTAL SHARES & DEPOSITS | 345,900,055 |
| TOTAL LIABILITIES | 364,778,726 |
| Regular Reserve | 0 |
| Other Reserves | 473,244 |
| Undivided Earnings | 30,720,182 |
| TOTAL EQUITY | 31,193,426 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 395,972,152 |
| INCOME & EXPENSE | |
| Loan Income | 12,272,031 |
| Investment Income | 3,434,980 |
| Other Income | 2,921,920 |
| Total Employee Compensation & Benefits | 7,353,787 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 5,962,319 |
| Non-operating Income & (Expense) | 213,938 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 2,710,503 |
| Cost of Funds | 3,132,643 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,879,718 |
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