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LYNCHBURG MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION

Dec, 31, 2020 — LYNCHBURG MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION is a federal credit union headquartered in LYNCHBURG, VA with 2 branch locations and about $26.56 million in total assets. Opened 60 years ago in 1961, LYNCHBURG MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION has about 3,181 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:http://lmefcu.org
Branches:2 branch locations
Members:3,181
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:Sep 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$26,560,216
CEO/Manager:Demetria l Baker
Chairperson:Steve C Arthur

Call Report

  • Overdraft Lines of Credit
  • Real Estate Loans
  • Risk Based Loans
  • Share Secured Credit Cards
  • Payday Alternative Loans (PAL Loans)
  • ATM/Debit Card Program
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 3,720,995
TOTAL INVESTMENTS 10,508,000
Loans Held for Sale 0
 
 Real Estate Loans 2,040,486
 Unsecured Loans 3,514,629
 Other Loans 6,405,365
 TOTAL LOANS 11,960,480
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -23,938
 Land And Building 0
 Other Fixed Assets 0
 NCUSIF Deposit 194,768
 All Other Assets 199,911
  TOTAL ASSETS 26,560,216
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 68,456
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 3,435,087
 Regular shares 14,846,044
 All Other Shares & Deposits 4,715,083
  TOTAL SHARES & DEPOSITS 22,996,214
  TOTAL LIABILITIES 23,064,670
 Regular Reserve 457,183
 Other Reserves 0
 Undivided Earnings 3,038,363
  TOTAL EQUITY 3,495,546
  TOTAL LIABILITIES, SHARES, & EQUITY 26,560,216
INCOME & EXPENSE  
 Loan Income 677,239
 Investment Income 233,153
 Other Income 92,893
 Total Employee Compensation & Benefits 481,596
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 318,873
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 107,550
 Cost of Funds 1,014,632
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -919,366
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