Dec, 31, 2023 — IOWA HEARTLAND CREDIT UNION is a federally insured state chartered credit union headquartered in MASON CITY, IA with 1 branch location and about $28.00 million in total assets. Opened 92 years ago in 1932, IOWA HEARTLAND CREDIT UNION has about 3,231 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: | IOWA HEARTLAND CREDIT UNION |
|---|---|
| Address: (Main Office) | 1602 S MONROE AVE MASON CITY, IA 50401 |
| Phone: | (641) 424-5391 |
| Fax: | (641) 430-7253 |
| Website: | https://www.iowaheartland.org |
| Branches: | 1 branch locations |
| Members: | 3,231 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 60718 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1932 |
| Last Audited: | Dec 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $27,998,730 |
| CEO/Manager: | Cynthia Stephenson |
| Chairperson: | Scott Hand |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 675,925 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 4,755,287 |
| Unsecured Loans | 617,781 |
| Other Loans | 9,569,823 |
| TOTAL LOANS | 14,942,891 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -66,428 |
| Land And Building | 381,916 |
| Other Fixed Assets | 48,733 |
| NCUSIF Deposit | 226,689 |
| All Other Assets | 2,684 |
| TOTAL ASSETS | 27,998,730 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 1 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 58,520 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 3,179,147 |
| Regular shares | 16,235,345 |
| All Other Shares & Deposits | 3,583,600 |
| TOTAL SHARES & DEPOSITS | 22,998,092 |
| TOTAL LIABILITIES | 23,056,613 |
| Regular Reserve | 0 |
| Other Reserves | 847,764 |
| Undivided Earnings | 4,094,353 |
| TOTAL EQUITY | 4,942,117 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 27,998,730 |
| INCOME & EXPENSE | |
| Loan Income | 668,352 |
| Investment Income | 358,950 |
| Other Income | 75,345 |
| Total Employee Compensation & Benefits | 339,604 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 458,586 |
| Non-operating Income & (Expense) | 7,911 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 5,025 |
| Cost of Funds | 52,826 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 270,751 |
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