Beacon Credit Union (IN) is headquartered in Wabash and is the 11th largest credit union in the state of Indiana. It is also the 304th largest credit union in the nation. It was established in 1931 and as of December of 2022, it had grown to 254 employees and 47,017 members at 19 locations. Beacon Credit Union (IN)'s CD rates are 3X the national average, and it has an A health rating.
Field of Membership Restrictions
Membership in Beacon Credit Union is open to those who live or work in the Indiana counties of Adams, Allen, Bartholomew, Blackford, Boone, Carroll, Cass, Clark, Clinton, Daviess, Decatur, DeKalb, Delaware, Dubois, Fayette, Fountain, Fulton, Grant, Hancock, Henry, Howard, Huntington, Jackson, Jasper, Jennings, Johnson, Knox, Kosciusko, LaPorte, Madison, Marshall, Miami, Montgomery, Morgan, Noble, Pulaski, Randolph, Rush, Shelby, Starke, Steuben, St. Joseph, Tippecanoe, Tipton, Union, Wabash, Wayne, Wells, White, or Whitley.
See current membership details
America Share Insurance Insured—NOT NCUA Insured
I was just reviewing the CU website and noticed they are NOT Federally insured. They disclose this fact clearly. This may be a no-go for some.
Costly Fees And Rudeness
Do not use this credit union for checking services. They took approximately $150 in fees from my checking account over the course of several years because their mailing address on file was incorrect after I moved. They had a perfectly good email address and phone number with which to contact me about these fees and never did so. Beacon refused to refund any portion of the fees when asked. Unflexible, rude, and uncooperative.
Health Grade Components
| Overall | |
|---|---|
| NCUA # | 82791 |
| Year Chartered | 1931 |
| Employees | 254 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.34% |
| Return on Equity - YTD | 3.41% |
| Annual Interest Income | $41.8MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2022vs Q4 2021 | $1.50B$1.51B |
| Loans | Q4 2022vs Q4 2021 | $955.3MM$909.5MM |
| Deposits | Q4 2022vs Q4 2021 | $1.29B$1.30B |
| Equity Capital | Q4 2022vs Q4 2021 | $148.6MM$198.0MM |
| Loan Loss Allowance | Q4 2022vs Q4 2021 | $3.7MM$3.7MM |
| Unbacked Noncurrent Loans | Q4 2022vs Q4 2021 | $424.00K$3.8MM |
| Real Estate Owned | Q4 2022vs Q4 2021 | $0$0 |
