Dec, 31, 2023 — L&N EMPLOYEES CREDIT UNION is a federally insured state chartered credit union headquartered in BIRMINGHAM, AL with 2 branch locations and about $8.64 million in total assets. Opened 72 years ago in 1952, L&N EMPLOYEES CREDIT UNION has about 1,471 members and employs 4 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | L&N EMPLOYEES CREDIT UNION |
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Address: (Main Office) | 4101 Vanderbilt Rd BIRMINGHAM, AL 35217 |
Phone: | (205) 841-2544 |
Fax: | (205) 849-6843 |
Website: | https://www.mylncu.com |
Branches: | 2 branch locations |
Members: | 1,471 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 62356 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1952 |
Last Audited: | Mar 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $8,639,376 |
CEO/Manager: | Michelle Cooper |
Chairperson: | Earnest Long Sr |
ASSETS: | $ Amount |
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Cash & Equivalents | 740,159 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 1,541,916 |
Unsecured Loans | 427,243 |
Other Loans | 3,523,209 |
TOTAL LOANS | 5,492,368 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -40,609 |
Land And Building | 89,652 |
Other Fixed Assets | 34,263 |
NCUSIF Deposit | 82,205 |
All Other Assets | 51,640 |
TOTAL ASSETS | 8,639,376 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 10,856 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 59,731 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 1,101,086 |
Regular shares | 2,893,745 |
All Other Shares & Deposits | 3,096,409 |
TOTAL SHARES & DEPOSITS | 7,091,240 |
TOTAL LIABILITIES | 7,161,827 |
Regular Reserve | 0 |
Other Reserves | -363,949 |
Undivided Earnings | 1,841,498 |
TOTAL EQUITY | 1,477,549 |
TOTAL LIABILITIES, SHARES, & EQUITY | 8,639,376 |
INCOME & EXPENSE | |
Loan Income | 393,316 |
Investment Income | 93,047 |
Other Income | 113,276 |
Total Employee Compensation & Benefits | 273,395 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 289,343 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
Cost of Funds | 39,057 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 2,136 |
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