Sep, 30, 2025 — 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 $40.79 million in total assets. Opened 72 years ago in 1954, LU 354 I B E W FEDERAL CREDIT UNION has about 2,695 members and employs 6 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: | 2,695 |
| 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, 2025 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $40,785,074 |
| CEO/Manager: | Linda J Perschon |
| Chairperson: | James Starkie |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 4,585,943 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 9,102,791 |
| Unsecured Loans | 687,803 |
| Other Loans | 20,536,308 |
| TOTAL LOANS | 30,326,903 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -154,350 |
| Land And Building | 0 |
| Other Fixed Assets | 60,564 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 286,862 |
| All Other Assets | 0 |
| TOTAL ASSETS | 40,785,074 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 16,047 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 23,674 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 4,784,666 |
| Regular shares | 11,571,722 |
| All Other Shares & Deposits | 18,201,102 |
| TOTAL SHARES & DEPOSITS | 34,557,490 |
| TOTAL LIABILITIES | 34,597,211 |
| Regular Reserve | 0 |
| Other Reserves | -44,224 |
| Undivided Earnings | 6,232,087 |
| TOTAL EQUITY | 6,187,863 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 40,785,074 |
| INCOME & EXPENSE | |
| Loan Income | 1,445,793 |
| Investment Income | 250,188 |
| Other Income | 52,191 |
| Total Employee Compensation & Benefits | 413,844 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 400,025 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 44,497 |
| Cost of Funds | 500,384 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 497,275 |
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