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LU 354 I B E W FEDERAL CREDIT UNION

Jun, 30, 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 $35.35 million in total assets. Opened 69 years ago in 1954, LU 354 I B E W FEDERAL CREDIT UNION has about 2,679 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:2,679
Credit Union Type:Federal Credit Union
Charter Number:9398
Membership Type:Multiple common bond - other
Corporate Credit Union:No
Year Opened:1954
Last Audited:May 01, 2022
FHLB Member:No
Low Income Designation:No
Assets:$35,345,026
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 1,726,386
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 4,761,633
 Unsecured Loans 573,759
 Other Loans 23,717,966
 TOTAL LOANS 29,053,358
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -110,078
 Land And Building 0
 Other Fixed Assets 9,801
 NCUSIF Deposit 283,448
 All Other Assets 38,017
  TOTAL ASSETS 35,345,026
LIABILITIES & CAPITAL:  
 Dividends Payable 16,045
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 26,803
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 4,396,105
 Regular shares 12,736,208
 All Other Shares & Deposits 13,795,411
  TOTAL SHARES & DEPOSITS 30,927,724
  TOTAL LIABILITIES 30,970,572
 Regular Reserve 0
 Other Reserves -296,969
 Undivided Earnings 4,671,423
  TOTAL EQUITY 4,374,454
  TOTAL LIABILITIES, SHARES, & EQUITY 35,345,026
INCOME & EXPENSE  
 Loan Income 858,850
 Investment Income 81,211
 Other Income 40,883
 Total Employee Compensation & Benefits 318,568
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 334,260
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 102,751
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 360,753
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