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LU 354 I B E W FEDERAL CREDIT UNION

Mar, 31, 2022 — LU 354 I B E W FEDERAL CREDIT UNION is a federal credit union headquartered in SALT LAKE CITY, UT with 1 branch location and about $35.12 million in total assets. Opened 68 years ago in 1954, LU 354 I B E W FEDERAL CREDIT UNION has about 2,681 members and employs 5 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:LU 354 I B E W FEDERAL CREDIT UNION
Address:
(Main Office)
3405 W 1987 S
SALT LAKE CITY, UT 84104-4942
Phone:(801) 975-9693
Fax:(801) 975-9698
Website:http://www.ibewfcu.org
Branches:1 branch locations
Members:2,681
Credit Union Type:Federal Credit Union
Charter Number:9398
Membership Type:Multiple common bond - other
Corporate Credit Union:No
Year Opened:1954
Last Audited:Jun 01, 2021
FHLB Member:No
Low Income Designation:No
Assets:$35,115,632
CEO/Manager:Linda J Perschon
Chairperson:James Starkie

Call Report

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

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 1,638,166
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 3,353,477
 Unsecured Loans 532,604
 Other Loans 22,250,375
 TOTAL LOANS 26,136,456
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -109,909
 Land And Building 0
 Other Fixed Assets 14,997
 NCUSIF Deposit 251,408
 All Other Assets 0
  TOTAL ASSETS 35,115,632
LIABILITIES & CAPITAL:  
 Dividends Payable 7,294
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 21,682
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 4,322,851
 Regular shares 12,660,952
 All Other Shares & Deposits 13,812,423
  TOTAL SHARES & DEPOSITS 30,796,226
  TOTAL LIABILITIES 30,825,202
 Regular Reserve 0
 Other Reserves -117,777
 Undivided Earnings 4,408,207
  TOTAL EQUITY 4,290,430
  TOTAL LIABILITIES, SHARES, & EQUITY 35,115,632
INCOME & EXPENSE  
 Loan Income 265,028
 Investment Income 27,017
 Other Income 13,017
 Total Employee Compensation & Benefits 106,424
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 107,394
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 35,328
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 97,540
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