Dec, 31, 2023 — LANECO FEDERAL CREDIT UNION is a federal credit union headquartered in EUGENE, OR with 1 branch location and about $17.99 million in total assets. Opened 66 years ago in 1958, LANECO FEDERAL CREDIT UNION has about 1,582 members offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | LANECO FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 74 Centennial Loop # A EUGENE, OR 97401-2451 |
| Phone: | (541) 683-5665 |
| Fax: | (541) 683-7126 |
| Website: | https://www.laneco.org |
| Branches: | 1 branch locations |
| Members: | 1,582 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 12590 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1958 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $17,987,020 |
| CEO/Manager: | Loreen A Ervin |
| Chairperson: | Manetta M Deggelman |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,402,210 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 271,979 |
| Unsecured Loans | 273,355 |
| Other Loans | 7,009,819 |
| TOTAL LOANS | 7,555,153 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -9,999 |
| Land And Building | 255,465 |
| Other Fixed Assets | 7,872 |
| NCUSIF Deposit | 173,809 |
| All Other Assets | 0 |
| TOTAL ASSETS | 17,987,020 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 8,447 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 3,883,447 |
| Regular shares | 11,254,962 |
| All Other Shares & Deposits | 1,384,221 |
| TOTAL SHARES & DEPOSITS | 16,522,630 |
| TOTAL LIABILITIES | 16,531,077 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 1,455,943 |
| TOTAL EQUITY | 1,455,943 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 17,987,020 |
| INCOME & EXPENSE | |
| Loan Income | 307,588 |
| Investment Income | 256,991 |
| Other Income | 6,147 |
| Total Employee Compensation & Benefits | 200,369 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 382,575 |
| Non-operating Income & (Expense) | -4 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 7,106 |
| Cost of Funds | 1,753 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 71,586 |
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