Dec, 31, 2023 — LAKE COUNTY EDUCATIONAL FEDERAL CREDIT UNION is a federal credit union headquartered in PAINESVILLE, OH with 3 branch locations and about $33.70 million in total assets. Opened 29 years ago in 1995, LAKE COUNTY EDUCATIONAL FEDERAL CREDIT UNION has about 3,399 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: | LAKE COUNTY EDUCATIONAL FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 1595 Mentor Ave PAINESVILLE, OH 44077 |
| Phone: | (440) 352-4732 |
| Fax: | (440) 352-3732 |
| Website: | https://www.lakecountyedufcu.org |
| Branches: | 3 branch locations |
| Members: | 3,399 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 24545 |
|---|---|
| Membership Type: | Multiple common bond - Primarily educational |
| Corporate Credit Union: | No |
| Year Opened: | 1995 |
| Last Audited: | Mar 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $33,698,432 |
| CEO/Manager: | Miranda McConoughey |
| Chairperson: | Mary Ann Bittner |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,070,666 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 5,771,824 |
| Unsecured Loans | 2,616,335 |
| Other Loans | 11,145,952 |
| TOTAL LOANS | 19,534,111 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -68,613 |
| Land And Building | 90,155 |
| Other Fixed Assets | 65,101 |
| NCUSIF Deposit | 429,079 |
| All Other Assets | 0 |
| TOTAL ASSETS | 33,698,432 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 163,492 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 5,873,165 |
| Regular shares | 20,681,871 |
| All Other Shares & Deposits | 5,829,049 |
| TOTAL SHARES & DEPOSITS | 32,384,085 |
| TOTAL LIABILITIES | 32,547,577 |
| Regular Reserve | 0 |
| Other Reserves | -1,048,266 |
| Undivided Earnings | 2,199,121 |
| TOTAL EQUITY | 1,150,855 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 33,698,432 |
| INCOME & EXPENSE | |
| Loan Income | 1,117,517 |
| Investment Income | 274,773 |
| Other Income | 160,744 |
| Total Employee Compensation & Benefits | 593,384 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 607,739 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 21,619 |
| Cost of Funds | 48,722 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 281,570 |
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