Dec, 31, 2023 — LOGAN MEDICAL FEDERAL CREDIT UNION is a federal credit union headquartered in LOGAN, UT with 1 branch location and about $32.16 million in total assets. Opened 63 years ago in 1961, LOGAN MEDICAL FEDERAL CREDIT UNION has about 2,088 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: | LOGAN MEDICAL FEDERAL CREDIT UNION |
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Address: (Main Office) | 500 E 1400 N LOGAN, UT 84341 |
Phone: | (435) 716-5392 |
Fax: | (435) 753-4179 |
Website: | https://www.loganmedicalfcu.org |
Branches: | 1 branch locations |
Members: | 2,088 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 14571 |
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Membership Type: | Multiple common bond - Primarily health care |
Corporate Credit Union: | No |
Year Opened: | 1961 |
Last Audited: | Mar 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $32,163,803 |
CEO/Manager: | Dale Howe |
Chairperson: | Brian Potts |
ASSETS: | $ Amount |
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Cash & Equivalents | 824,842 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 6,527,731 |
Unsecured Loans | 389,919 |
Other Loans | 12,317,910 |
TOTAL LOANS | 19,235,560 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -93,555 |
Land And Building | 0 |
Other Fixed Assets | 6,968 |
NCUSIF Deposit | 249,525 |
All Other Assets | 0 |
TOTAL ASSETS | 32,163,803 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 3,155 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 16,445 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 2,864,861 |
Regular shares | 13,814,778 |
All Other Shares & Deposits | 10,203,525 |
TOTAL SHARES & DEPOSITS | 26,883,164 |
TOTAL LIABILITIES | 26,902,764 |
Regular Reserve | 0 |
Other Reserves | 0 |
Undivided Earnings | 5,261,039 |
TOTAL EQUITY | 5,261,039 |
TOTAL LIABILITIES, SHARES, & EQUITY | 32,163,803 |
INCOME & EXPENSE | |
Loan Income | 934,500 |
Investment Income | 232,608 |
Other Income | 52,753 |
Total Employee Compensation & Benefits | 324,667 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 246,075 |
Non-operating Income & (Expense) | 1,695 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 8,000 |
Cost of Funds | 303,042 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 354,763 |
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» See also Statement of Financial Condition