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LAKES FEDERAL CREDIT UNION

Dec, 31, 2020 — LAKES FEDERAL CREDIT UNION is a federal credit union headquartered in MONTICELLO, IN with 1 branch location and about $23.65 million in total assets. Opened 65 years ago in 1956, LAKES FEDERAL CREDIT UNION has about 3,546 members and employs 6 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:3,546
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, 2019
FHLB Member:No
Low Income Designation:No
Assets:$23,645,205
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 7,221,483
TOTAL INVESTMENTS 5,643,088
Loans Held for Sale 0
 
 Real Estate Loans 1,133,666
 Unsecured Loans 560,295
 Other Loans 8,261,561
 TOTAL LOANS 9,955,522
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -48,530
 Land And Building 494,679
 Other Fixed Assets 25,347
 NCUSIF Deposit 179,220
 All Other Assets 174,396
  TOTAL ASSETS 23,645,205
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 196,018
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 4,028,135
 Regular shares 14,677,171
 All Other Shares & Deposits 2,223,057
  TOTAL SHARES & DEPOSITS 20,928,363
  TOTAL LIABILITIES 21,124,381
 Regular Reserve 606,873
 Other Reserves 0
 Undivided Earnings 1,913,951
  TOTAL EQUITY 2,520,824
  TOTAL LIABILITIES, SHARES, & EQUITY 23,645,205
INCOME & EXPENSE  
 Loan Income 455,214
 Investment Income 156,363
 Other Income 202,994
 Total Employee Compensation & Benefits 246,394
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 379,674
 Non-operating Income & (Expense) 12,022
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 19,000
 Cost of Funds 32,790
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 148,735
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