Dec, 31, 2023 — LM FEDERAL CREDIT UNION is a federal credit union headquartered in BALTIMORE, MD with 1 branch location and about $52.55 million in total assets. Opened 75 years ago in 1949, LM FEDERAL CREDIT UNION has about 3,546 members and employs 12 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | LM FEDERAL CREDIT UNION |
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Address: (Main Office) | 101 CHESAPEAKE PARK PLZ BALTIMORE, MD 21220 |
Phone: | (410) 687-5240 |
Fax: | (410) 687-1322 |
Website: | https://www.lmfcu.org |
Branches: | 1 branch locations |
Members: | 3,546 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 6039 |
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Membership Type: | Multiple common bond - Primarily other manufacturing |
Corporate Credit Union: | No |
Year Opened: | 1949 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $52,553,644 |
CEO/Manager: | MARK T BOLD |
Chairperson: | ROBERT J CASWELL |
ASSETS: | $ Amount |
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Cash & Equivalents | 11,494,632 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 14,683,532 |
Unsecured Loans | 2,023,684 |
Other Loans | 19,187,462 |
TOTAL LOANS | 35,894,678 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -57,472 |
Land And Building | 0 |
Other Fixed Assets | 52,109 |
NCUSIF Deposit | 499,646 |
All Other Assets | 0 |
TOTAL ASSETS | 52,553,644 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 340,653 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 7,211,739 |
Regular shares | 25,838,229 |
All Other Shares & Deposits | 13,968,700 |
TOTAL SHARES & DEPOSITS | 47,018,668 |
TOTAL LIABILITIES | 47,359,321 |
Regular Reserve | 0 |
Other Reserves | 954,209 |
Undivided Earnings | 4,240,114 |
TOTAL EQUITY | 5,194,323 |
TOTAL LIABILITIES, SHARES, & EQUITY | 52,553,644 |
INCOME & EXPENSE | |
Loan Income | 1,742,663 |
Investment Income | 859,707 |
Other Income | 85,849 |
Total Employee Compensation & Benefits | 797,939 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 662,231 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 20,000 |
Cost of Funds | 411,203 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 1,018,287 |
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