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LOGAN MEDICAL FEDERAL CREDIT UNION

Dec, 31, 2020 — LOGAN MEDICAL FEDERAL CREDIT UNION is a federal credit union headquartered in LOGAN, UT with 1 branch location and about $28.56 million in total assets. Opened 60 years ago in 1961, LOGAN MEDICAL FEDERAL CREDIT UNION has about 2,225 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.


ABA Routing Number: 324377189
Name:LOGAN MEDICAL FEDERAL CREDIT UNION
Address:
(Main Office)
500 E 1400 N
LOGAN, UT 84341
Phone:(435) 716-5392
Fax:(435) 753-4179
Website:http://www.loganmedicalfcu.org
Branches:1 branch locations
Members:2,225
Credit Union Type:Federal Credit Union
Charter Number:14571
Membership Type:Multiple common bond - Primarily health care
Corporate Credit Union:No
Year Opened:1961
Last Audited:Mar 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$28,561,805
CEO/Manager:Dale Howe
Chairperson:Brian Potts

Call Report

  • Commercial Loans
  • Overdraft Lines of Credit
  • Real Estate Loans
  • Risk Based Loans
  • ATM/Debit Card Program
  • Check Cashing
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 367,017
TOTAL INVESTMENTS 9,650,165
Loans Held for Sale 0
 
 Real Estate Loans 7,053,141
 Unsecured Loans 437,453
 Other Loans 10,873,143
 TOTAL LOANS 18,363,737
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -108,396
 Land And Building 0
 Other Fixed Assets 8,567
 NCUSIF Deposit 196,696
 All Other Assets 84,019
  TOTAL ASSETS 28,561,805
LIABILITIES & CAPITAL:  
 Dividends Payable 7,254
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 46,706
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 1,842,232
 Regular shares 13,561,571
 All Other Shares & Deposits 8,767,257
  TOTAL SHARES & DEPOSITS 24,171,060
  TOTAL LIABILITIES 24,225,020
 Regular Reserve 292,638
 Other Reserves 0
 Undivided Earnings 4,044,147
  TOTAL EQUITY 4,336,785
  TOTAL LIABILITIES, SHARES, & EQUITY 28,561,805
INCOME & EXPENSE  
 Loan Income 844,575
 Investment Income 139,804
 Other Income 57,542
 Total Employee Compensation & Benefits 268,522
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 239,376
 Non-operating Income & (Expense) 4,290
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 17,000
 Cost of Funds 225,017
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 296,296
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