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LOCAL 697 FEDERAL CREDIT UNION

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
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
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

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
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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