Dec, 31, 2023 — AMERICAN LAKE CREDIT UNION is a federally insured state chartered credit union headquartered in LAKEWOOD, WA with 2 branch locations and about $64.50 million in total assets. Opened 76 years ago in 1948, AMERICAN LAKE CREDIT UNION has about 5,373 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.
| Name: | AMERICAN LAKE CREDIT UNION |
|---|---|
| Address: (Main Office) | 9802 Gravelly Lake Dr SW LAKEWOOD, WA 98499-1704 |
| Phone: | (253) 584-0079 |
| Fax: | (253) 581-5035 |
| Website: | https://www.americanlake.org |
| Branches: | 2 branch locations |
| Members: | 5,373 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 68371 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1948 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $64,500,976 |
| CEO/Manager: | Kolin C McMann |
| Chairperson: | William Disbrow |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 3,212,348 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 1,213,810 |
| Unsecured Loans | 2,514,012 |
| Other Loans | 26,799,891 |
| TOTAL LOANS | 30,527,713 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -402,614 |
| Land And Building | 1,594,517 |
| Other Fixed Assets | 120,250 |
| NCUSIF Deposit | 561,602 |
| All Other Assets | 88,975 |
| TOTAL ASSETS | 64,500,976 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 162 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 655,129 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 12,573,485 |
| Regular shares | 25,944,448 |
| All Other Shares & Deposits | 15,977,389 |
| TOTAL SHARES & DEPOSITS | 54,495,323 |
| TOTAL LIABILITIES | 55,150,614 |
| Regular Reserve | 0 |
| Other Reserves | 5,040,000 |
| Undivided Earnings | 4,310,362 |
| TOTAL EQUITY | 9,350,362 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 64,500,976 |
| INCOME & EXPENSE | |
| Loan Income | 1,650,645 |
| Investment Income | 847,046 |
| Other Income | 286,055 |
| Total Employee Compensation & Benefits | 1,273,380 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,131,377 |
| Non-operating Income & (Expense) | 148,103 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 384,609 |
| Cost of Funds | 133,811 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 272,050 |
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