Dec, 31, 2023 — TECH CREDIT UNION is a federally insured state chartered credit union headquartered in CROWN POINT, IN with 11 branch locations and about $520.45 million in total assets. Opened 88 years ago in 1936, TECH CREDIT UNION has about 38,525 members and employs 148 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | TECH CREDIT UNION |
|---|---|
| Address: (Main Office) | 10110 Randolph St CROWN POINT, IN 46307-9469 |
| Phone: | (219) 663-5120 |
| Fax: | (219) 662-3533 |
| Website: | https://www.techcu.org |
| Branches: | 11 branch locations |
| Members: | 38,525 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 68225 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1936 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $520,445,907 |
| CEO/Manager: | Eugene R Novello |
| Chairperson: | Joseph A Machara |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 34,511,240 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 900,949 |
| Real Estate Loans | 284,207,761 |
| Unsecured Loans | 4,448,748 |
| Other Loans | 159,004,258 |
| TOTAL LOANS | 447,699,019 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,908,835 |
| Land And Building | 20,151,718 |
| Other Fixed Assets | 4,017,921 |
| NCUSIF Deposit | 4,553,825 |
| All Other Assets | 209,372 |
| TOTAL ASSETS | 520,445,907 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 10,000,000 |
| Accounts Payable & Other Liabilities | -162,709 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 75,996,835 |
| Regular shares | 198,485,921 |
| All Other Shares & Deposits | 188,130,632 |
| TOTAL SHARES & DEPOSITS | 462,613,388 |
| TOTAL LIABILITIES | 472,450,679 |
| Regular Reserve | 0 |
| Other Reserves | 9,239,922 |
| Undivided Earnings | 38,755,306 |
| TOTAL EQUITY | 47,995,228 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 520,445,907 |
| INCOME & EXPENSE | |
| Loan Income | 20,122,608 |
| Investment Income | 1,090,237 |
| Other Income | 2,542,214 |
| Total Employee Compensation & Benefits | 12,062,976 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 9,066,136 |
| Non-operating Income & (Expense) | 3,308,060 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 473,787 |
| Cost of Funds | 5,708,779 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 6,844,335 |
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