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LITHIUM FEDERAL CREDIT UNION

Sep, 30, 2022 — LITHIUM FEDERAL CREDIT UNION is a federal credit union headquartered in BESSEMER CITY, NC with 1 branch location and about $12.27 million in total assets. Opened 67 years ago in 1956, LITHIUM FEDERAL CREDIT UNION has about 1,404 members and employs 4 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:LITHIUM FEDERAL CREDIT UNION
Address:
(Main Office)
1111 BESSEMER CITY KINGS MTN HWY
BESSEMER CITY, NC 28016-9640
Phone:(704) 868-0890
Fax:(704) 868-5497
Website:https://www.lithiumfcu.org
Branches:1 branch locations
Members:1,404
Credit Union Type:Federal Credit Union
Charter Number:11409
Membership Type:Multiple common bond - Primarily chemical
Corporate Credit Union:No
Year Opened:1956
Last Audited:Dec 01, 2021
FHLB Member:No
Low Income Designation:No
Assets:$12,274,031
CEO/Manager:Eric R Campbell
Chairperson:JACKIE L GOODE

Call Report

  • Credit Builder
  • Payday Alternative Loans (PAL Loans)
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 1,343,958
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 2,641,378
 Unsecured Loans 888,432
 Other Loans 5,205,247
 TOTAL LOANS 8,735,057
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -75,204
 Land And Building 15,725
 Other Fixed Assets 14,592
 NCUSIF Deposit 98,492
 All Other Assets 0
  TOTAL ASSETS 12,274,031
LIABILITIES & CAPITAL:  
 Dividends Payable 10,013
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 59,502
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 1,444,824
 Regular shares 6,733,073
 All Other Shares & Deposits 2,014,644
  TOTAL SHARES & DEPOSITS 10,192,541
  TOTAL LIABILITIES 10,262,056
 Regular Reserve 0
 Other Reserves 731,850
 Undivided Earnings 1,280,125
  TOTAL EQUITY 2,011,975
  TOTAL LIABILITIES, SHARES, & EQUITY 12,274,031
INCOME & EXPENSE  
 Loan Income 397,077
 Investment Income 19,158
 Other Income 22,613
 Total Employee Compensation & Benefits 183,089
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 192,985
 Non-operating Income & (Expense) 17,585
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 20,250
 Cost of Funds 30,681
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 88,139
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