Jun, 30, 2024 — LAKES FEDERAL CREDIT UNION is a federal credit union headquartered in MONTICELLO, IN with 1 branch location and about $27.47 million in total assets. Opened 69 years ago in 1956, LAKES FEDERAL CREDIT UNION has about 3,154 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: | https://www.lakesfcu.com |
| Branches: | 1 branch locations |
| Members: | 3,154 |
| 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, 2021 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $27,474,478 |
| CEO/Manager: | Alicia G Pifer |
| Chairperson: | Gregory L Onken |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 3,189,029 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 871,827 |
| Unsecured Loans | 571,059 |
| Other Loans | 8,617,717 |
| TOTAL LOANS | 10,060,603 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -61,592 |
| Land And Building | 462,713 |
| Other Fixed Assets | 38,439 |
| NCUSIF Deposit | 222,268 |
| All Other Assets | 0 |
| TOTAL ASSETS | 27,474,478 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 9 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 8,352 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 4,405,113 |
| Regular shares | 18,397,777 |
| All Other Shares & Deposits | 1,924,855 |
| TOTAL SHARES & DEPOSITS | 24,727,745 |
| TOTAL LIABILITIES | 24,736,106 |
| Regular Reserve | 0 |
| Other Reserves | 606,873 |
| Undivided Earnings | 2,131,499 |
| TOTAL EQUITY | 2,738,372 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 27,474,478 |
| INCOME & EXPENSE | |
| Loan Income | 322,408 |
| Investment Income | 65,174 |
| Other Income | 193,748 |
| Total Employee Compensation & Benefits | 168,117 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 331,964 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 38,750 |
| Cost of Funds | 19,928 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 133,944 |
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