Dec, 31, 2023 — INDUSTRIAL EMPLOYEES CREDIT UNION is a federally insured state chartered credit union headquartered in CENTERVILLE, IA with 1 branch location and about $9.27 million in total assets. Opened 57 years ago in 1967, INDUSTRIAL EMPLOYEES CREDIT UNION has about 910 members and employs 3 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | INDUSTRIAL EMPLOYEES CREDIT UNION |
|---|---|
| Address: (Main Office) | 1513 S 18th St CENTERVILLE, IA 52544 |
| Phone: | (641) 437-7109 |
| Fax: | (641) 437-7109 |
| Website: | https://industrialemployeescu.com |
| Branches: | 1 branch locations |
| Members: | 910 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 65242 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1967 |
| Last Audited: | Nov 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $9,270,924 |
| CEO/Manager: | Shona Varese |
| Chairperson: | Wendell DeVore |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 578,693 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 28,596 |
| Unsecured Loans | 416,143 |
| Other Loans | 4,842,130 |
| TOTAL LOANS | 5,696,175 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -71,375 |
| Land And Building | 34,884 |
| Other Fixed Assets | 808 |
| NCUSIF Deposit | 88,092 |
| All Other Assets | 0 |
| TOTAL ASSETS | 9,270,924 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 436 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 19,774 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 702,543 |
| Regular shares | 6,719,384 |
| All Other Shares & Deposits | 0 |
| TOTAL SHARES & DEPOSITS | 7,421,927 |
| TOTAL LIABILITIES | 7,442,137 |
| Regular Reserve | 0 |
| Other Reserves | 274,923 |
| Undivided Earnings | 1,553,864 |
| TOTAL EQUITY | 1,828,787 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 9,270,924 |
| INCOME & EXPENSE | |
| Loan Income | 251,441 |
| Investment Income | 101,497 |
| Other Income | 60,068 |
| Total Employee Compensation & Benefits | 138,061 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 181,316 |
| Non-operating Income & (Expense) | 11,207 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
| Cost of Funds | 38,073 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 104,964 |
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