Mar, 31, 2021 — LOGAN MEDICAL FEDERAL CREDIT UNION is a federal credit union headquartered in LOGAN, UT with 1 branch location and about $29.99 million in total assets. Opened 60 years ago in 1961, LOGAN MEDICAL FEDERAL CREDIT UNION has about 2,227 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: | 2,227 |
| 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: | $29,988,234 |
| CEO/Manager: | Dale Howe |
| Chairperson: | Brian Potts |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 2,010,505 |
| TOTAL INVESTMENTS | 9,151,314 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 7,288,363 |
| Unsecured Loans | 382,293 |
| Other Loans | 10,932,235 |
| TOTAL LOANS | 18,602,891 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -75,291 |
| Land And Building | 0 |
| Other Fixed Assets | 7,397 |
| NCUSIF Deposit | 196,696 |
| All Other Assets | 94,722 |
| TOTAL ASSETS | 29,988,234 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 6,481 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 50,191 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 2,164,755 |
| Regular shares | 14,762,427 |
| All Other Shares & Deposits | 8,586,868 |
| TOTAL SHARES & DEPOSITS | 25,514,050 |
| TOTAL LIABILITIES | 25,570,722 |
| Regular Reserve | 292,638 |
| Other Reserves | 0 |
| Undivided Earnings | 4,124,874 |
| TOTAL EQUITY | 4,417,512 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 29,988,234 |
| INCOME & EXPENSE | |
| Loan Income | 205,713 |
| Investment Income | 25,748 |
| Other Income | 9,563 |
| Total Employee Compensation & Benefits | 71,568 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 43,470 |
| Non-operating Income & (Expense) | 1,155 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 3,000 |
| Cost of Funds | 47,414 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 80,728 |
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