Dec, 31, 2023 — IQ CREDIT UNION is a federally insured state chartered credit union headquartered in VANCOUVER, WA with 24 branch locations and about $2.06 billion in total assets. Opened 84 years ago in 1940, IQ CREDIT UNION has about 104,371 members and employs 378 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | IQ CREDIT UNION |
|---|---|
| Address: (Main Office) | 1313 Main St VANCOUVER, WA 98660-2918 |
| Phone: | (360) 695-3441 |
| Fax: | (360) 992-4250 |
| Website: | https://www.iqcu.com |
| Branches: | 24 branch locations |
| Members: | 104,371 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 60438 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1940 |
| Last Audited: | Jun 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $2,062,447,329 |
| CEO/Manager: | Eric Petracca |
| Chairperson: | Doug Lehrman |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 201,881,862 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 770,925 |
| Real Estate Loans | 1,019,689,535 |
| Unsecured Loans | 66,454,065 |
| Other Loans | 547,002,048 |
| TOTAL LOANS | 1,633,145,648 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -19,839,201 |
| Land And Building | 23,555,525 |
| Other Fixed Assets | 13,591,709 |
| NCUSIF Deposit | 17,465,126 |
| All Other Assets | 610,372 |
| TOTAL ASSETS | 2,062,447,329 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 36,249,000 |
| Accounts Payable & Other Liabilities | 33,726,498 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 585,571,892 |
| Regular shares | 506,326,796 |
| All Other Shares & Deposits | 721,188,451 |
| TOTAL SHARES & DEPOSITS | 1,813,087,139 |
| TOTAL LIABILITIES | 1,883,067,233 |
| Regular Reserve | 0 |
| Other Reserves | 2,095,174 |
| Undivided Earnings | 177,284,922 |
| TOTAL EQUITY | 179,380,096 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 2,062,447,329 |
| INCOME & EXPENSE | |
| Loan Income | 79,899,041 |
| Investment Income | 8,841,193 |
| Other Income | 8,436,709 |
| Total Employee Compensation & Benefits | 38,087,118 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 28,981,181 |
| Non-operating Income & (Expense) | 261,712 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 15,231,334 |
| Cost of Funds | 27,369,940 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 6,087,890 |
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