Mar, 31, 2021 — LAKES FEDERAL CREDIT UNION is a federal credit union headquartered in MONTICELLO, IN with 1 branch location and about $26.04 million in total assets. Opened 65 years ago in 1956, LAKES FEDERAL CREDIT UNION has about 3,511 members and employs 5 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: | http://www.lakesfcu.com |
| Branches: | 1 branch locations |
| Members: | 3,511 |
| 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: | Dec 01, 2020 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $26,037,741 |
| CEO/Manager: | Alicia G Pifer |
| Chairperson: | Francis E Maxwell |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 8,300,036 |
| TOTAL INVESTMENTS | 7,195,088 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 1,097,617 |
| Unsecured Loans | 483,303 |
| Other Loans | 8,079,948 |
| TOTAL LOANS | 9,660,868 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -47,650 |
| Land And Building | 489,982 |
| Other Fixed Assets | 37,506 |
| NCUSIF Deposit | 209,283 |
| All Other Assets | 192,628 |
| TOTAL ASSETS | 26,037,741 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 205,407 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 4,580,338 |
| Regular shares | 16,445,528 |
| All Other Shares & Deposits | 2,255,512 |
| TOTAL SHARES & DEPOSITS | 23,281,378 |
| TOTAL LIABILITIES | 23,486,785 |
| Regular Reserve | 606,872 |
| Other Reserves | 0 |
| Undivided Earnings | 1,944,084 |
| TOTAL EQUITY | 2,550,956 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 26,037,741 |
| INCOME & EXPENSE | |
| Loan Income | 105,475 |
| Investment Income | 19,405 |
| Other Income | 17,591 |
| Total Employee Compensation & Benefits | 52,840 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 102,067 |
| Non-operating Income & (Expense) | 1,579 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
| Cost of Funds | 8,451 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 30,134 |
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