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LU 354 I B E W FEDERAL CREDIT UNION

Dec, 31, 2020 — 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 $31.33 million in total assets. Opened 67 years ago in 1954, LU 354 I B E W FEDERAL CREDIT UNION has about 2,630 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:2,630
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, 2020
FHLB Member:No
Low Income Designation:No
Assets:$31,329,853
CEO/Manager:Linda J Perschon
Chairperson:James Starkie

Call Report

  • Commercial Loans
  • Micro Business Loans
  • Micro Consumer Loans
  • Overdraft Lines of Credit
  • Real Estate Loans
  • Risk Based Loans
  • Share Secured Credit Cards
  • ATM/Debit Card Program
  • Commercial Share Accounts
  • Check Cashing
  • First Time Homebuyer Program
  • Insurance/Investment Sales
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 2,564,447
TOTAL INVESTMENTS 6,542,350
Loans Held for Sale 0
 
 Real Estate Loans 2,805,813
 Unsecured Loans 623,184
 Other Loans 18,535,565
 TOTAL LOANS 21,964,562
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -127,824
 Land And Building 0
 Other Fixed Assets 14,461
 NCUSIF Deposit 229,817
 All Other Assets 142,040
  TOTAL ASSETS 31,329,853
LIABILITIES & CAPITAL:  
 Dividends Payable 7,406
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 23,012
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 3,907,347
 Regular shares 8,350,248
 All Other Shares & Deposits 14,972,078
  TOTAL SHARES & DEPOSITS 27,229,673
  TOTAL LIABILITIES 27,260,091
 Regular Reserve 638,591
 Other Reserves 170,764
 Undivided Earnings 3,260,407
  TOTAL EQUITY 4,069,762
  TOTAL LIABILITIES, SHARES, & EQUITY 31,329,853
INCOME & EXPENSE  
 Loan Income 1,014,263
 Investment Income 114,805
 Other Income 208,801
 Total Employee Compensation & Benefits 401,912
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 404,974
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 6,000
 Cost of Funds 231,214
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 293,769
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