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LORMET COMMUNITY FEDERAL CREDIT UNION

Dec, 31, 2023 — LORMET COMMUNITY FEDERAL CREDIT UNION is a federal credit union headquartered in AMHERST, OH with 4 branch locations and about $246.27 million in total assets. Opened 88 years ago in 1936, LORMET COMMUNITY FEDERAL CREDIT UNION has about 19,759 members and employs 40 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: 241279810
Name:LORMET COMMUNITY FEDERAL CREDIT UNION
Address:
(Main Office)
2051 Cooper Foster Park Rd
AMHERST, OH 44001-1208
Phone:(440) 960-6600
Fax:(440) 960-6640
Website:https://lormet.com
Branches:4 branch locations
Members:19,759
Credit Union Type:Federal Credit Union
Charter Number:24637
Membership Type:Community credit unions, urban or rural, other than those designated 'low income'
Corporate Credit Union:No
Year Opened:1936
Last Audited:Dec 01, 2022
FHLB Member:No
Low Income Designation:No
Assets:$246,266,592
CEO/Manager:Daniel R Cwalina
Chairperson:Victoria Lesner

Call Report

  • International Remittances

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 40,296,235
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 7,082,863
 Unsecured Loans 3,909,905
 Other Loans 133,262,049
 TOTAL LOANS 144,254,817
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -538,755
 Land And Building 5,578,940
 Other Fixed Assets 458,295
 NCUSIF Deposit 2,116,755
 All Other Assets 16,398
  TOTAL ASSETS 246,266,592
LIABILITIES & CAPITAL:  
 Dividends Payable 416,879
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 1,404,964
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 35,292,994
 Regular shares 125,278,384
 All Other Shares & Deposits 57,727,380
  TOTAL SHARES & DEPOSITS 218,298,758
  TOTAL LIABILITIES 220,120,601
 Regular Reserve 0
 Other Reserves -1,021,987
 Undivided Earnings 27,167,978
  TOTAL EQUITY 26,145,991
  TOTAL LIABILITIES, SHARES, & EQUITY 246,266,592
INCOME & EXPENSE  
 Loan Income 4,732,165
 Investment Income 3,298,386
 Other Income 1,180,072
 Total Employee Compensation & Benefits 2,965,803
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 3,013,814
 Non-operating Income & (Expense) 816
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 46,592
 Cost of Funds 1,179,566
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 3,020,299
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