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 |
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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 |
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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, 2019 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $23,645,205 |
CEO/Manager: | Alicia G Pifer |
Chairperson: | Francis E Maxwell |
ASSETS: | $ Amount |
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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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