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L C E FEDERAL CREDIT UNION

Dec, 31, 2023 — L C E FEDERAL CREDIT UNION is a federal credit union headquartered in PAINESVILLE, OH with 2 branch locations and about $59.44 million in total assets. Opened 64 years ago in 1960, L C E FEDERAL CREDIT UNION has about 5,908 members and employs 14 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 241280980
Name:L C E FEDERAL CREDIT UNION
Address:
(Main Office)
77 N Saint Clair St
PAINESVILLE, OH 44077
Phone:(440) 357-2560
Fax:(440) 357-2779
Website:https://www.lcefcu.org
Branches:2 branch locations
Members:5,908
Credit Union Type:Federal Credit Union
Charter Number:13885
Membership Type:Community credit unions, urban or rural, other than those designated 'low income'
Corporate Credit Union:No
Year Opened:1960
Last Audited:Jun 01, 2023
FHLB Member:No
Low Income Designation:No
Assets:$59,439,914
CEO/Manager:Anita L Walters
Chairperson:Dale Flood

Call Report

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  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 4,486,664
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 11,138,355
 Unsecured Loans 4,736,960
 Other Loans 18,913,889
 TOTAL LOANS 34,789,204
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -314,721
 Land And Building 198,368
 Other Fixed Assets 118,009
 NCUSIF Deposit 538,542
 All Other Assets 0
  TOTAL ASSETS 59,439,914
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 182,760
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 11,509,324
 Regular shares 28,779,421
 All Other Shares & Deposits 15,016,000
  TOTAL SHARES & DEPOSITS 55,304,745
  TOTAL LIABILITIES 55,487,505
 Regular Reserve 0
 Other Reserves -967,120
 Undivided Earnings 4,919,529
  TOTAL EQUITY 3,952,409
  TOTAL LIABILITIES, SHARES, & EQUITY 59,439,914
INCOME & EXPENSE  
 Loan Income 1,933,502
 Investment Income 632,119
 Other Income 441,028
 Total Employee Compensation & Benefits 966,484
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 942,522
 Non-operating Income & (Expense) -19,651
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 251,749
 Cost of Funds 246,936
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 657,205
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