Dec, 31, 2023 — CANALS & TRAILS CREDIT UNION is a federally insured state chartered credit union headquartered in LOCKPORT, IL with 2 branch locations and about $33.39 million in total assets. Opened 65 years ago in 1959, CANALS & TRAILS CREDIT UNION has about 3,300 members and employs 9 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | CANALS & TRAILS CREDIT UNION |
|---|---|
| Address: (Main Office) | 838 S State St LOCKPORT, IL 60441-3434 |
| Phone: | (815) 838-7159 |
| Fax: | (815) 838-5581 |
| Website: | https://www.canals-trailscu.org |
| Branches: | 2 branch locations |
| Members: | 3,300 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 68508 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1959 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $33,387,210 |
| CEO/Manager: | Janet Schuler |
| Chairperson: | James M Wartenberg |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,253,710 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 3,636,963 |
| Unsecured Loans | 983,655 |
| Other Loans | 6,837,560 |
| TOTAL LOANS | 11,458,178 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -65,779 |
| Land And Building | 633,234 |
| Other Fixed Assets | 54,150 |
| NCUSIF Deposit | 326,920 |
| All Other Assets | 1,097 |
| TOTAL ASSETS | 33,387,210 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 43,198 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 4,964,227 |
| Regular shares | 21,634,288 |
| All Other Shares & Deposits | 3,570,604 |
| TOTAL SHARES & DEPOSITS | 30,169,119 |
| TOTAL LIABILITIES | 30,212,317 |
| Regular Reserve | 0 |
| Other Reserves | 295,165 |
| Undivided Earnings | 2,879,728 |
| TOTAL EQUITY | 3,174,893 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 33,387,210 |
| INCOME & EXPENSE | |
| Loan Income | 580,987 |
| Investment Income | 278,780 |
| Other Income | 142,092 |
| Total Employee Compensation & Benefits | 401,952 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 542,819 |
| Non-operating Income & (Expense) | -4,257 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 48,281 |
| Cost of Funds | 25,671 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 86,824 |
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