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LYNCHBURG MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION

Mar, 31, 2021 — LYNCHBURG MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION is a federal credit union headquartered in LYNCHBURG, VA with 2 branch locations and about $28.97 million in total assets. Opened 60 years ago in 1961, LYNCHBURG MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION has about 3,158 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:3,158
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:$28,965,190
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 6,860,563
TOTAL INVESTMENTS 10,757,000
Loans Held for Sale 0
 
 Real Estate Loans 2,013,238
 Unsecured Loans 3,142,871
 Other Loans 5,819,618
 TOTAL LOANS 10,975,727
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -40,527
 Land And Building 0
 Other Fixed Assets 182,527
 NCUSIF Deposit 194,768
 All Other Assets 35,132
  TOTAL ASSETS 28,965,190
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 61,905
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 4,118,727
 Regular shares 16,531,972
 All Other Shares & Deposits 4,739,966
  TOTAL SHARES & DEPOSITS 25,390,665
  TOTAL LIABILITIES 25,452,570
 Regular Reserve 457,183
 Other Reserves 0
 Undivided Earnings 3,055,437
  TOTAL EQUITY 3,512,620
  TOTAL LIABILITIES, SHARES, & EQUITY 28,965,190
INCOME & EXPENSE  
 Loan Income 157,512
 Investment Income 55,408
 Other Income 9,527
 Total Employee Compensation & Benefits 104,909
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 91,830
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 8,000
 Cost of Funds 12,297
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 17,074
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