Dec, 31, 2023 — FIRST NORTHERN CREDIT UNION is a federally insured state chartered credit union headquartered in CHICAGO, IL with 4 branch locations and about $350.55 million in total assets. Opened 80 years ago in 1944, FIRST NORTHERN CREDIT UNION has about 22,544 members and employs 73 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | FIRST NORTHERN CREDIT UNION |
|---|---|
| Address: (Main Office) | 230 W Monroe St CHICAGO, IL 60606 |
| Phone: | (312) 332-6357 |
| Fax: | (312) 332-0166 |
| Website: | https://www.fncu.org |
| Branches: | 4 branch locations |
| Members: | 22,544 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 66359 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1944 |
| Last Audited: | Jun 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $350,553,537 |
| CEO/Manager: | Edward C Berg |
| Chairperson: | Gerald Partch |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 16,837,612 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 1,645,146 |
| Real Estate Loans | 112,077,141 |
| Unsecured Loans | 17,369,770 |
| Other Loans | 89,964,501 |
| TOTAL LOANS | 219,411,412 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,880,566 |
| Land And Building | 1,685,858 |
| Other Fixed Assets | 816,511 |
| NCUSIF Deposit | 3,113,727 |
| All Other Assets | 14,325 |
| TOTAL ASSETS | 350,553,537 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 10,000,000 |
| Accounts Payable & Other Liabilities | 5,883,919 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 75,006,576 |
| Regular shares | 176,000,894 |
| All Other Shares & Deposits | 59,926,589 |
| TOTAL SHARES & DEPOSITS | 310,934,059 |
| TOTAL LIABILITIES | 326,817,978 |
| Regular Reserve | 0 |
| Other Reserves | -4,377,153 |
| Undivided Earnings | 28,112,712 |
| TOTAL EQUITY | 23,735,559 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 350,553,537 |
| INCOME & EXPENSE | |
| Loan Income | 10,258,297 |
| Investment Income | 1,801,934 |
| Other Income | 846,016 |
| Total Employee Compensation & Benefits | 7,345,709 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 5,829,772 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 308,500 |
| Cost of Funds | 1,347,462 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 851,226 |
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