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LATVIAN HERITAGE FEDERAL CREDIT UNION

Mar, 31, 2021 — LATVIAN HERITAGE FEDERAL CREDIT UNION is a federal credit union headquartered in GRAND RAPIDS, MI with 3 branch locations and about $4.11 million in total assets. Opened 58 years ago in 1963, LATVIAN HERITAGE FEDERAL CREDIT UNION has about 472 members and employs 9 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:LATVIAN HERITAGE FEDERAL CREDIT UNION
Address:
(Main Office)
504 GRAND AVE NE, P.O. BOX 152125
GRAND RAPIDS, MI 49515
Phone:(616) 454-8012
Fax:
Website:http://www.latvianheritage.org
Branches:3 branch locations
Members:472
Credit Union Type:Federal Credit Union
Charter Number:15779
Membership Type:Multiple common bond - other
Corporate Credit Union:No
Year Opened:1963
Last Audited:Apr 01, 2021
FHLB Member:No
Low Income Designation:No
Assets:$4,113,850
CEO/Manager:Ivars Petrovskis
Chairperson:Tracy Wood

Call Report

  • Real Estate Loans
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 83,441
TOTAL INVESTMENTS 1,094,600
Loans Held for Sale 0
 
 Real Estate Loans 2,675,088
 Unsecured Loans 82,833
 Other Loans 142,477
 TOTAL LOANS 2,900,398
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -39,313
 Land And Building 0
 Other Fixed Assets 0
 NCUSIF Deposit 36,612
 All Other Assets 38,112
  TOTAL ASSETS 4,113,850
LIABILITIES & CAPITAL:  
 Dividends Payable 3,261
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 556
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 0
 Regular shares 3,574,959
 All Other Shares & Deposits 0
  TOTAL SHARES & DEPOSITS 3,574,959
  TOTAL LIABILITIES 3,578,776
 Regular Reserve 169,874
 Other Reserves 0
 Undivided Earnings 365,200
  TOTAL EQUITY 535,074
  TOTAL LIABILITIES, SHARES, & EQUITY 4,113,850
INCOME & EXPENSE  
 Loan Income 33,582
 Investment Income 2,978
 Other Income 1,888
 Total Employee Compensation & Benefits 20,371
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 11,886
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 3,000
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 3,204
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