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LU 354 I B E W FEDERAL CREDIT UNION

Dec, 31, 2021 — 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 $34.81 million in total assets. Opened 68 years ago in 1954, LU 354 I B E W FEDERAL CREDIT UNION has about 2,658 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:2,658
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:$34,812,599
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 2,277,780
TOTAL INVESTMENTS 7,159,878
Loans Held for Sale 0
 
 Real Estate Loans 3,112,122
 Unsecured Loans 564,778
 Other Loans 21,409,977
 TOTAL LOANS 25,086,877
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -108,908
 Land And Building 0
 Other Fixed Assets 18,460
 NCUSIF Deposit 251,408
 All Other Assets 127,104
  TOTAL ASSETS 34,812,599
LIABILITIES & CAPITAL:  
 Dividends Payable 2,919
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 18,030
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 3,979,877
 Regular shares 12,042,837
 All Other Shares & Deposits 14,409,414
  TOTAL SHARES & DEPOSITS 30,432,128
  TOTAL LIABILITIES 30,453,077
 Regular Reserve 638,591
 Other Reserves 48,855
 Undivided Earnings 3,672,076
  TOTAL EQUITY 4,359,522
  TOTAL LIABILITIES, SHARES, & EQUITY 34,812,599
INCOME & EXPENSE  
 Loan Income 1,050,599
 Investment Income 109,059
 Other Income 55,009
 Total Employee Compensation & Benefits 397,967
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 414,525
 Non-operating Income & (Expense) -77
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 156,069
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 411,670
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