Dec, 31, 2023 — LAKE SHORE FEDERAL CREDIT UNION is a federal credit union headquartered in ANGOLA, NY with 1 branch location and about $22.34 million in total assets. Opened 57 years ago in 1967, LAKE SHORE FEDERAL CREDIT UNION has about 3,142 members and employs 5 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | LAKE SHORE FEDERAL CREDIT UNION |
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Address: (Main Office) | 8766 Erie Rd ANGOLA, NY 14006 |
Phone: | (716) 549-4150 |
Fax: | (716) 549-2785 |
Website: | https://lakeshore-fcu.net |
Branches: | 1 branch locations |
Members: | 3,142 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 17878 |
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Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
Corporate Credit Union: | No |
Year Opened: | 1967 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $22,340,301 |
CEO/Manager: | Susan George |
Chairperson: | LYNNE E PENFOLD |
ASSETS: | $ Amount |
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Cash & Equivalents | 2,062,157 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 1,588,162 |
Unsecured Loans | 1,341,535 |
Other Loans | 7,360,752 |
TOTAL LOANS | 10,290,449 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -151,916 |
Land And Building | 604,939 |
Other Fixed Assets | 30,023 |
NCUSIF Deposit | 199,492 |
All Other Assets | 0 |
TOTAL ASSETS | 22,340,301 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 140,890 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 5,820,007 |
Regular shares | 13,597,587 |
All Other Shares & Deposits | 93,551 |
TOTAL SHARES & DEPOSITS | 19,511,144 |
TOTAL LIABILITIES | 19,652,034 |
Regular Reserve | 0 |
Other Reserves | 0 |
Undivided Earnings | 2,688,267 |
TOTAL EQUITY | 2,688,267 |
TOTAL LIABILITIES, SHARES, & EQUITY | 22,340,301 |
INCOME & EXPENSE | |
Loan Income | 455,031 |
Investment Income | 309,866 |
Other Income | 162,231 |
Total Employee Compensation & Benefits | 335,415 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 392,673 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 23,070 |
Cost of Funds | 24,751 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 276,290 |
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