Dec, 31, 2023 — LOCAL 697 FEDERAL CREDIT UNION is a federal credit union headquartered in MERRILLVILLE, IN with 1 branch location and about $39.57 million in total assets. Opened 66 years ago in 1958, LOCAL 697 FEDERAL CREDIT UNION has about 3,004 members and employs 4 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | LOCAL 697 FEDERAL CREDIT UNION |
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Address: (Main Office) | 7200 MISSISSIPPI ST STE 400 MERRILLVILLE, IN 46410 |
Phone: | (219) 845-6040 |
Fax: | (219) 972-6699 |
Website: | https://www.697fcu.org |
Branches: | 1 branch locations |
Members: | 3,004 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 12745 |
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Membership Type: | Multiple common bond - Primarily communications and utilities |
Corporate Credit Union: | No |
Year Opened: | 1958 |
Last Audited: | Oct 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $39,569,207 |
CEO/Manager: | Daniel F Simon |
Chairperson: | David A Soderquist |
ASSETS: | $ Amount |
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Cash & Equivalents | 1,447,925 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 3,705,601 |
Unsecured Loans | 666,143 |
Other Loans | 14,853,680 |
TOTAL LOANS | 19,225,424 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -67,289 |
Land And Building | 827,427 |
Other Fixed Assets | 8,794 |
NCUSIF Deposit | 331,561 |
All Other Assets | 0 |
TOTAL ASSETS | 39,569,207 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 47,331 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 2,431,959 |
Regular shares | 8,692,161 |
All Other Shares & Deposits | 21,773,192 |
TOTAL SHARES & DEPOSITS | 32,897,312 |
TOTAL LIABILITIES | 32,944,643 |
Regular Reserve | 0 |
Other Reserves | 5,676,208 |
Undivided Earnings | 948,356 |
TOTAL EQUITY | 6,624,564 |
TOTAL LIABILITIES, SHARES, & EQUITY | 39,569,207 |
INCOME & EXPENSE | |
Loan Income | 781,061 |
Investment Income | 814,953 |
Other Income | 15,772 |
Total Employee Compensation & Benefits | 497,674 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 353,192 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
Cost of Funds | 467,956 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 373,816 |
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