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.
Name: | BEACON CREDIT UNION |
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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 |
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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 |
ASSETS: | $ Amount |
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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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