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INNER LAKES FEDERAL CREDIT UNION

Dec, 31, 2023 — INNER LAKES FEDERAL CREDIT UNION is a federal credit union headquartered in WESTFIELD, NY with 5 branch locations and about $140.08 million in total assets. Opened 72 years ago in 1952, INNER LAKES FEDERAL CREDIT UNION has about 10,126 members and employs 27 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:INNER LAKES FEDERAL CREDIT UNION
Address:
(Main Office)
19-21 E Main St
WESTFIELD, NY 14787-1319
Phone:(716) 326-3858
Fax:(716) 326-7550
Website:https://www.innerlakesfcu.org
Branches:5 branch locations
Members:10,126
Credit Union Type:Federal Credit Union
Charter Number:7717
Membership Type:Community credit unions, urban or rural, other than those designated 'low income'
Corporate Credit Union:No
Year Opened:1952
Last Audited:Dec 01, 2023
FHLB Member:No
Low Income Designation:No
Assets:$140,077,228
CEO/Manager:Travis Heiser
Chairperson:William Bills

Call Report

  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 13,195,050
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 13,542,721
 Unsecured Loans 11,688,336
 Other Loans 30,066,134
 TOTAL LOANS 55,297,191
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -543,501
 Land And Building 892,951
 Other Fixed Assets 176,436
 NCUSIF Deposit 1,328,009
 All Other Assets 0
  TOTAL ASSETS 140,077,228
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 336,565
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 26,724,206
 Regular shares 67,311,596
 All Other Shares & Deposits 41,301,760
  TOTAL SHARES & DEPOSITS 135,337,562
  TOTAL LIABILITIES 135,674,127
 Regular Reserve 0
 Other Reserves -8,688,648
 Undivided Earnings 13,091,749
  TOTAL EQUITY 4,403,101
  TOTAL LIABILITIES, SHARES, & EQUITY 140,077,228
INCOME & EXPENSE  
 Loan Income 2,848,348
 Investment Income 2,432,555
 Other Income 345,869
 Total Employee Compensation & Benefits 1,554,658
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 1,843,456
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 156,777
 Cost of Funds 1,203,000
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 1,407,454
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