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LYNCHBURG MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION

Dec, 31, 2023 — LYNCHBURG MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION is a federal credit union headquartered in LYNCHBURG, VA with 2 branch locations and about $28.81 million in total assets. Opened 63 years ago in 1961, LYNCHBURG MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION has about 3,001 members and employs 8 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: 251481041
Name:LYNCHBURG MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION
Address:
(Main Office)
3176 Fort Ave
LYNCHBURG, VA 24501
Phone:(434) 845-1013
Fax:(434) 845-3209
Website:https://lmefcu.org
Branches:2 branch locations
Members:3,001
Credit Union Type:Federal Credit Union
Charter Number:14623
Membership Type:Multiple common bond - Primarily federal, state, local government
Corporate Credit Union:No
Year Opened:1961
Last Audited:Jun 01, 2023
FHLB Member:No
Low Income Designation:No
Assets:$28,814,947
CEO/Manager:Steven M Perrow
Chairperson:Melva C Walker

Call Report

  • Payday Alternative Loans (PAL Loans)
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 1,365,194
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 3,097,292
 Unsecured Loans 2,938,675
 Other Loans 5,859,810
 TOTAL LOANS 11,895,777
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -141,001
 Land And Building 0
 Other Fixed Assets 64,324
 NCUSIF Deposit 269,668
 All Other Assets 0
  TOTAL ASSETS 28,814,947
LIABILITIES & CAPITAL:  
 Dividends Payable 7,900
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 161,248
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 4,003,842
 Regular shares 17,073,713
 All Other Shares & Deposits 4,403,696
  TOTAL SHARES & DEPOSITS 25,481,251
  TOTAL LIABILITIES 25,650,399
 Regular Reserve 0
 Other Reserves 457,183
 Undivided Earnings 2,707,365
  TOTAL EQUITY 3,164,548
  TOTAL LIABILITIES, SHARES, & EQUITY 28,814,947
INCOME & EXPENSE  
 Loan Income 699,948
 Investment Income 411,091
 Other Income 94,987
 Total Employee Compensation & Benefits 378,540
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 704,172
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 33,680
 Cost of Funds 54,345
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 117,920
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