Dec, 31, 2021 — BEACON CREDIT UNION is a non-federally insured state credit union headquartered in WABASH, IN with 20 branch locations and about $1.51 billion in total assets. Opened 91 years ago in 1931, BEACON CREDIT UNION has about 46,755 members and employs 277 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | BEACON CREDIT UNION |
|---|---|
| Address: (Main Office) | 586 S Wabash St WABASH, IN 46992-3328 |
| Phone: | (260) 563-7443 |
| Fax: | (260) 569-0553 |
| Website: | http://www.beaconcu.org |
| Branches: | 20 branch locations |
| Members: | 46,755 |
| Credit Union Type: | Non-Federally Insured State Credit Union |
| Charter Number: | 82791 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1931 |
| Last Audited: | Dec 01, 2020 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $1,514,735,600 |
| CEO/Manager: | Kevin Willour |
| Chairperson: | Ken Dale |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 54,417,478 |
| TOTAL INVESTMENTS | 445,684,192 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 752,846,540 |
| Unsecured Loans | 1,114,033 |
| Other Loans | 155,515,635 |
| TOTAL LOANS | 909,476,208 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -3,743,884 |
| Land And Building | 7,659,817 |
| Other Fixed Assets | 1,788,076 |
| NCUSIF Deposit | 0 |
| All Other Assets | 99,453,713 |
| TOTAL ASSETS | 1,514,735,600 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 1,814,882 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 10,323,920 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 249,779,236 |
| Regular shares | 639,885,248 |
| All Other Shares & Deposits | 414,905,084 |
| TOTAL SHARES & DEPOSITS | 1,304,569,568 |
| TOTAL LIABILITIES | 1,316,708,370 |
| Regular Reserve | 75,405,085 |
| Other Reserves | -7,055,123 |
| Undivided Earnings | 129,677,268 |
| TOTAL EQUITY | 198,027,230 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 1,514,735,600 |
| INCOME & EXPENSE | |
| Loan Income | 31,498,120 |
| Investment Income | 5,750,639 |
| Other Income | 6,176,577 |
| Total Employee Compensation & Benefits | 20,032,420 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 12,806,893 |
| Non-operating Income & (Expense) | -10,064 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 50,000 |
| Cost of Funds | 8,906,857 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 5,347,211 |
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