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BEACON CREDIT UNION

Dec, 31, 2023 — BEACON CREDIT UNION is a non-federally insured state credit union headquartered in WABASH, IN with 19 branch locations and about $1.52 billion in total assets. Opened 93 years ago in 1931, BEACON CREDIT UNION has about 47,494 members and employs 266 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 274976151
Name:BEACON CREDIT UNION
Address:
(Main Office)
586 S Wabash St
WABASH, IN 46992-3328
Phone:(260) 563-7443
Fax:(260) 569-0553
Website:https://www.beaconcu.org
Branches:19 branch locations
Members:47,494
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, 2022
FHLB Member:Yes
Low Income Designation:No
Assets:$1,517,175,060
CEO/Manager:Dustin A Cuttriss
Chairperson:Herbert W Horrom

Call Report

  • First Time Homebuyer Program
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 45,239,102
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 812,855,163
 Unsecured Loans 2,856,841
 Other Loans 189,832,508
 TOTAL LOANS 1,005,544,512
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -3,595,103
 Land And Building 6,527,972
 Other Fixed Assets 960,429
 NCUSIF Deposit 0
 All Other Assets 0
  TOTAL ASSETS 1,517,175,060
LIABILITIES & CAPITAL:  
 Dividends Payable 666,611
 Notes & Interest Payable 84,000,000
 Accounts Payable & Other Liabilities 12,002,171
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 263,202,439
 Regular shares 539,601,960
 All Other Shares & Deposits 457,926,418
  TOTAL SHARES & DEPOSITS 1,260,730,817
  TOTAL LIABILITIES 1,357,399,599
 Regular Reserve 0
 Other Reserves -54,674,424
 Undivided Earnings 214,449,885
  TOTAL EQUITY 159,775,461
  TOTAL LIABILITIES, SHARES, & EQUITY 1,517,175,060
INCOME & EXPENSE  
 Loan Income 39,050,396
 Investment Income 12,910,947
 Other Income 7,118,829
 Total Employee Compensation & Benefits 22,513,446
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 14,398,184
 Non-operating Income & (Expense) 10,607
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 21,071,575
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 4,306,887
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