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BEACON CREDIT UNION

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.


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: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

Call Report

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

Financial Summary

» See also Statement of Financial Condition
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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