Dec, 31, 2023 — KANE COUNTY TEACHERS CREDIT UNION is a non-federally insured state credit union headquartered in ELGIN, IL with 8 branch locations and about $417.77 million in total assets. Opened 87 years ago in 1937, KANE COUNTY TEACHERS CREDIT UNION has about 28,984 members and employs 97 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | KANE COUNTY TEACHERS CREDIT UNION |
|---|---|
| Address: (Main Office) | 111 S Hawthorne St ELGIN, IL 60123 |
| Phone: | (847) 741-3344 |
| Fax: | (847) 741-3345 |
| Website: | https://www.kctcu.org |
| Branches: | 8 branch locations |
| Members: | 28,984 |
| Credit Union Type: | Non-Federally Insured State Credit Union |
| Charter Number: | 95015 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1937 |
| Last Audited: | Dec 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $417,769,462 |
| CEO/Manager: | R Michael Lee |
| Chairperson: | Melanie Meidel |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 40,444,567 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 170,792,567 |
| Unsecured Loans | 45,896,086 |
| Other Loans | 94,051,668 |
| TOTAL LOANS | 317,886,370 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -6,823,672 |
| Land And Building | 4,556,880 |
| Other Fixed Assets | 1,628,029 |
| NCUSIF Deposit | 0 |
| All Other Assets | 122,235 |
| TOTAL ASSETS | 417,769,462 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 4,032,686 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 80,228,180 |
| Regular shares | 165,318,464 |
| All Other Shares & Deposits | 132,145,669 |
| TOTAL SHARES & DEPOSITS | 377,692,312 |
| TOTAL LIABILITIES | 381,724,998 |
| Regular Reserve | 0 |
| Other Reserves | -2,419,467 |
| Undivided Earnings | 38,463,931 |
| TOTAL EQUITY | 36,044,464 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 417,769,462 |
| INCOME & EXPENSE | |
| Loan Income | 16,872,054 |
| Investment Income | 8,738,278 |
| Other Income | 1,014,867 |
| Total Employee Compensation & Benefits | 7,212,116 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 6,035,656 |
| Non-operating Income & (Expense) | -74,919 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 3,518,007 |
| Cost of Funds | 8,793,776 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 4,325,335 |
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