Sep, 30, 2025 — LAKES FEDERAL CREDIT UNION is a federal credit union headquartered in MONTICELLO, IN with 1 branch location and about $25.52 million in total assets. Opened 70 years ago in 1956, LAKES FEDERAL CREDIT UNION has about 3,038 members and employs 7 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | LAKES FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 106 Rickey Rd MONTICELLO, IN 47960-1537 |
| Phone: | (574) 583-5556 |
| Fax: | (574) 583-9056 |
| Website: | https://www.lakesfcu.com |
| Branches: | 1 branch locations |
| Members: | 3,038 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 10772 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1956 |
| Last Audited: | Sep 01, 2024 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $25,522,937 |
| CEO/Manager: | Karri D Wireman |
| Chairperson: | Gregory L Onken |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 620,477 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 1,511,426 |
| Unsecured Loans | 661,262 |
| Other Loans | 13,817,304 |
| TOTAL LOANS | 15,989,998 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -97,359 |
| Land And Building | 435,616 |
| Other Fixed Assets | 34,515 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 223,122 |
| All Other Assets | 0 |
| TOTAL ASSETS | 25,522,937 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 153 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 56,347 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 4,945,844 |
| Regular shares | 13,848,451 |
| All Other Shares & Deposits | 2,812,139 |
| TOTAL SHARES & DEPOSITS | 21,606,436 |
| TOTAL LIABILITIES | 21,662,936 |
| Regular Reserve | 0 |
| Other Reserves | 606,873 |
| Undivided Earnings | 3,253,128 |
| TOTAL EQUITY | 3,860,001 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 25,522,937 |
| INCOME & EXPENSE | |
| Loan Income | 681,245 |
| Investment Income | 320,059 |
| Other Income | 74,107 |
| Total Employee Compensation & Benefits | 236,836 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 419,398 |
| Non-operating Income & (Expense) | 7,678 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 9,500 |
| Cost of Funds | 130,024 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 392,566 |
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