Dec, 31, 2023 — KANKAKEE FEDERATION OF TEACHERS CREDIT UNION is a federally insured state chartered credit union headquartered in KANKAKEE, IL with 1 branch location and about $9.56 million in total assets. Opened 68 years ago in 1956, KANKAKEE FEDERATION OF TEACHERS CREDIT UNION has about 1,312 members and employs 5 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | KANKAKEE FEDERATION OF TEACHERS CREDIT UNION |
|---|---|
| Address: (Main Office) | 1200 W Jeffery St KANKAKEE, IL 60901-4667 |
| Phone: | (815) 932-0335 |
| Fax: | (815) 932-1322 |
| Website: | https://www.kftcu.com |
| Branches: | 1 branch locations |
| Members: | 1,312 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 60198 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1956 |
| Last Audited: | Dec 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $9,558,477 |
| CEO/Manager: | Jennifer Conn |
| Chairperson: | Marion Jackson, Jr. |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 496,027 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 5,171 |
| Unsecured Loans | 644,465 |
| Other Loans | 7,495,026 |
| TOTAL LOANS | 8,144,662 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -94,419 |
| Land And Building | 0 |
| Other Fixed Assets | 0 |
| NCUSIF Deposit | 81,798 |
| All Other Assets | 0 |
| TOTAL ASSETS | 9,558,477 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 25,209 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 0 |
| Regular shares | 5,543,507 |
| All Other Shares & Deposits | 2,815,936 |
| TOTAL SHARES & DEPOSITS | 8,359,443 |
| TOTAL LIABILITIES | 8,384,652 |
| Regular Reserve | 0 |
| Other Reserves | 625,000 |
| Undivided Earnings | 548,825 |
| TOTAL EQUITY | 1,173,825 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 9,558,477 |
| INCOME & EXPENSE | |
| Loan Income | 361,185 |
| Investment Income | 35,512 |
| Other Income | 12 |
| Total Employee Compensation & Benefits | 93,416 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 81,915 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 66,500 |
| Cost of Funds | 142,817 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 22,901 |
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