Dec, 31, 2023 — FINANCIAL PLUS CREDIT UNION is a federally insured state chartered credit union headquartered in OTTAWA, IL with 5 branch locations and about $489.03 million in total assets. Opened 73 years ago in 1951, FINANCIAL PLUS CREDIT UNION has about 43,126 members and employs 103 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | FINANCIAL PLUS CREDIT UNION |
|---|---|
| Address: (Main Office) | 800 Chestnut St OTTAWA, IL 61350 |
| Phone: | (815) 433-1496 |
| Fax: | (815) 433-0065 |
| Website: | https://www.financialplus.org |
| Branches: | 5 branch locations |
| Members: | 43,126 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 61231 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1951 |
| Last Audited: | Dec 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $489,025,392 |
| CEO/Manager: | Peter S Fauth |
| Chairperson: | Joseph Navarro |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 30,979,100 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 105,257,629 |
| Unsecured Loans | 30,194,402 |
| Other Loans | 170,133,615 |
| TOTAL LOANS | 305,585,646 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,881,972 |
| Land And Building | 21,478,399 |
| Other Fixed Assets | 2,720,186 |
| NCUSIF Deposit | 4,030,403 |
| All Other Assets | 99,600 |
| TOTAL ASSETS | 489,025,392 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 4,257,870 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 72,100,108 |
| Regular shares | 212,202,826 |
| All Other Shares & Deposits | 142,718,574 |
| TOTAL SHARES & DEPOSITS | 427,021,508 |
| TOTAL LIABILITIES | 431,279,378 |
| Regular Reserve | 0 |
| Other Reserves | 523,706 |
| Undivided Earnings | 57,222,308 |
| TOTAL EQUITY | 57,746,014 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 489,025,392 |
| INCOME & EXPENSE | |
| Loan Income | 14,586,055 |
| Investment Income | 2,906,701 |
| Other Income | 2,967,282 |
| Total Employee Compensation & Benefits | 7,299,583 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 8,591,905 |
| Non-operating Income & (Expense) | 37,553 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 1,802,155 |
| Cost of Funds | 3,074,931 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 3,828,921 |
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