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LU 354 I B E W FEDERAL CREDIT UNION

Dec, 31, 2023 — 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 $36.14 million in total assets. Opened 70 years ago in 1954, LU 354 I B E W FEDERAL CREDIT UNION has about 2,636 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:https://www.ibewfcu.org
Branches:1 branch locations
Members:2,636
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, 2023
FHLB Member:No
Low Income Designation:No
Assets:$36,135,760
CEO/Manager:Linda J Perschon
Chairperson:James Starkie

Call Report

  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 1,142,092
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 8,022,519
 Unsecured Loans 669,106
 Other Loans 23,019,833
 TOTAL LOANS 31,711,458
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -100,000
 Land And Building 0
 Other Fixed Assets 49,722
 NCUSIF Deposit 277,938
 All Other Assets 25,000
  TOTAL ASSETS 36,135,760
LIABILITIES & CAPITAL:  
 Dividends Payable 2,921
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 15,587
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 5,563,780
 Regular shares 10,418,652
 All Other Shares & Deposits 15,034,251
  TOTAL SHARES & DEPOSITS 31,016,683
  TOTAL LIABILITIES 31,035,191
 Regular Reserve 0
 Other Reserves -179,619
 Undivided Earnings 5,280,188
  TOTAL EQUITY 5,100,569
  TOTAL LIABILITIES, SHARES, & EQUITY 36,135,760
INCOME & EXPENSE  
 Loan Income 1,669,377
 Investment Income 60,362
 Other Income 69,530
 Total Employee Compensation & Benefits 459,803
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 503,360
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 60,347
 Cost of Funds 475,059
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 469,627
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