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LAKES FEDERAL CREDIT UNION

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

Call Report

  • Real Estate Loans
  • Risk Based Loans
  • ATM/Debit Card Program
  • Commercial Share Accounts
  • Health Savings Accounts
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
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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