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.
| 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 |
| 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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