Dec, 31, 2023 — LAKES FEDERAL CREDIT UNION is a federal credit union headquartered in MONTICELLO, IN with 1 branch location and about $24.92 million in total assets. Opened 68 years ago in 1956, LAKES FEDERAL CREDIT UNION has about 2,972 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 |
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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: | 2,972 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 10772 |
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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, 2021 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $24,924,587 |
CEO/Manager: | Alicia G Pifer |
Chairperson: | Gregory L Onken |
ASSETS: | $ Amount |
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Cash & Equivalents | 2,570,174 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 846,318 |
Unsecured Loans | 554,860 |
Other Loans | 10,859,470 |
TOTAL LOANS | 12,260,649 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -58,159 |
Land And Building | 440,552 |
Other Fixed Assets | 31,997 |
NCUSIF Deposit | 239,058 |
All Other Assets | 0 |
TOTAL ASSETS | 24,924,587 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 100 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 109,133 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 4,951,973 |
Regular shares | 14,772,544 |
All Other Shares & Deposits | 2,045,493 |
TOTAL SHARES & DEPOSITS | 21,770,012 |
TOTAL LIABILITIES | 21,879,245 |
Regular Reserve | 0 |
Other Reserves | 606,873 |
Undivided Earnings | 2,438,469 |
TOTAL EQUITY | 3,045,342 |
TOTAL LIABILITIES, SHARES, & EQUITY | 24,924,587 |
INCOME & EXPENSE | |
Loan Income | 565,807 |
Investment Income | 420,922 |
Other Income | 111,328 |
Total Employee Compensation & Benefits | 287,520 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 582,017 |
Non-operating Income & (Expense) | 27,183 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 49,400 |
Cost of Funds | 78,849 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 281,365 |
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