Dec, 31, 2023 — L & N FEDERAL CREDIT UNION is a federal credit union headquartered in LOUISVILLE, KY with 23 branch locations and about $2.08 billion in total assets. Opened 70 years ago in 1954, L & N FEDERAL CREDIT UNION has about 113,063 members and employs 302 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | L & N FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 9115 Smyrna Pkwy LOUISVILLE, KY 40229-1578 |
| Phone: | (502) 368-5858 |
| Fax: | (502) 515-8390 |
| Website: | https://www.lnfcu.com |
| Branches: | 23 branch locations |
| Members: | 113,063 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 9260 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1954 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $2,078,773,147 |
| CEO/Manager: | Christopher S Brown |
| Chairperson: | Gary C Lord |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 95,019,882 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 1,493,280,645 |
| Unsecured Loans | 24,904,875 |
| Other Loans | 96,820,769 |
| TOTAL LOANS | 1,615,109,456 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -4,939,983 |
| Land And Building | 50,629,953 |
| Other Fixed Assets | 8,669,648 |
| NCUSIF Deposit | 15,591,278 |
| All Other Assets | 44,936 |
| TOTAL ASSETS | 2,078,773,147 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 68,498,209 |
| Accounts Payable & Other Liabilities | 19,945,844 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 277,849,690 |
| Regular shares | 473,600,378 |
| All Other Shares & Deposits | 1,012,576,244 |
| TOTAL SHARES & DEPOSITS | 1,764,026,312 |
| TOTAL LIABILITIES | 1,852,570,365 |
| Regular Reserve | 0 |
| Other Reserves | 13,571,141 |
| Undivided Earnings | 212,631,641 |
| TOTAL EQUITY | 226,202,782 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 2,078,773,147 |
| INCOME & EXPENSE | |
| Loan Income | 68,245,102 |
| Investment Income | 10,097,054 |
| Other Income | 11,343,209 |
| Total Employee Compensation & Benefits | 30,601,869 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 25,626,083 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 821,000 |
| Cost of Funds | 32,318,356 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 13,494,270 |
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