Dec, 31, 2023 — INDEPENDENCE TEACHERS CREDIT UNION is a federally insured state chartered credit union headquartered in INDEPENDENCE, MO with 1 branch location and about $16.06 million in total assets. Opened 65 years ago in 1959, INDEPENDENCE TEACHERS CREDIT UNION has about 1,900 members and employs 3 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | INDEPENDENCE TEACHERS CREDIT UNION |
|---|---|
| Address: (Main Office) | 201 N Forest Ave Ste 3 INDEPENDENCE, MO 64050 |
| Phone: | (816) 521-5378 |
| Fax: | (816) 521-5603 |
| Website: | https://sites.isdschools.org/itcu |
| Branches: | 1 branch locations |
| Members: | 1,900 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 62620 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1959 |
| Last Audited: | Jun 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $16,063,767 |
| CEO/Manager: | Angela G Cook |
| Chairperson: |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 2,111,955 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 275,740 |
| Other Loans | 5,350,229 |
| TOTAL LOANS | 5,625,969 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -20,908 |
| Land And Building | 0 |
| Other Fixed Assets | 4,531 |
| NCUSIF Deposit | 151,393 |
| All Other Assets | 0 |
| TOTAL ASSETS | 16,063,767 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 45 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 23,190 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 0 |
| Regular shares | 13,912,495 |
| All Other Shares & Deposits | 0 |
| TOTAL SHARES & DEPOSITS | 13,912,496 |
| TOTAL LIABILITIES | 13,935,731 |
| Regular Reserve | 0 |
| Other Reserves | 187,450 |
| Undivided Earnings | 1,940,586 |
| TOTAL EQUITY | 2,128,036 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 16,063,767 |
| INCOME & EXPENSE | |
| Loan Income | 230,578 |
| Investment Income | 223,089 |
| Other Income | 4,153 |
| Total Employee Compensation & Benefits | 149,680 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 65,532 |
| Non-operating Income & (Expense) | 5,598 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 13,837 |
| Cost of Funds | 154,809 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 79,560 |
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