Dec, 31, 2023 — IAA CREDIT UNION is a federally insured state chartered credit union headquartered in BLOOMINGTON, IL with 3 branch locations and about $358.93 million in total assets. Opened 73 years ago in 1951, IAA CREDIT UNION has about 17,203 members and employs 47 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | IAA CREDIT UNION |
|---|---|
| Address: (Main Office) | 808 Iaa Dr BLOOMINGTON, IL 61701-2214 |
| Phone: | (309) 557-2541 |
| Fax: | (309) 557-2419 |
| Website: | https://www.iaacu.org |
| Branches: | 3 branch locations |
| Members: | 17,203 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 68423 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1951 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $358,929,236 |
| CEO/Manager: | Timothy S Wells |
| Chairperson: | Thomas M Swearingen |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 33,111,256 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 145,186,047 |
| Unsecured Loans | 13,784,852 |
| Other Loans | 58,446,522 |
| TOTAL LOANS | 217,483,655 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,132,230 |
| Land And Building | 0 |
| Other Fixed Assets | 1,620,649 |
| NCUSIF Deposit | 2,858,029 |
| All Other Assets | 165,569 |
| TOTAL ASSETS | 358,929,236 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 4,933,952 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 44,028,206 |
| Regular shares | 62,331,347 |
| All Other Shares & Deposits | 202,073,406 |
| TOTAL SHARES & DEPOSITS | 308,432,959 |
| TOTAL LIABILITIES | 313,366,911 |
| Regular Reserve | 0 |
| Other Reserves | 8,547,071 |
| Undivided Earnings | 37,015,254 |
| TOTAL EQUITY | 45,562,325 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 358,929,236 |
| INCOME & EXPENSE | |
| Loan Income | 10,364,610 |
| Investment Income | 7,415,706 |
| Other Income | 489,058 |
| Total Employee Compensation & Benefits | 4,294,256 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 3,150,278 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 413,000 |
| Cost of Funds | 9,152,192 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 3,191,861 |
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