Dec, 31, 2023 — LANCO FEDERAL CREDIT UNION is a federal credit union headquartered in LANCASTER, PA with 3 branch locations and about $120.80 million in total assets. Opened 59 years ago in 1965, LANCO FEDERAL CREDIT UNION has about 10,216 members and employs 34 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | LANCO FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 349 W Roseville Rd LANCASTER, PA 17601 |
| Phone: | (717) 569-7180 |
| Fax: | (717) 569-2374 |
| Website: | https://www.lancofcu.com |
| Branches: | 3 branch locations |
| Members: | 10,216 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 16657 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1965 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $120,797,279 |
| CEO/Manager: | Jeremy Jenkins |
| Chairperson: | Brandon Leaman |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 7,971,652 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 57,085,119 |
| Unsecured Loans | 8,966,621 |
| Other Loans | 23,791,773 |
| TOTAL LOANS | 89,843,513 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -851,388 |
| Land And Building | 2,008,218 |
| Other Fixed Assets | 181,863 |
| NCUSIF Deposit | 1,080,585 |
| All Other Assets | 0 |
| TOTAL ASSETS | 120,797,279 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 716,425 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 33,257,570 |
| Regular shares | 53,422,422 |
| All Other Shares & Deposits | 22,865,892 |
| TOTAL SHARES & DEPOSITS | 109,545,884 |
| TOTAL LIABILITIES | 110,262,309 |
| Regular Reserve | 0 |
| Other Reserves | -487,261 |
| Undivided Earnings | 11,022,231 |
| TOTAL EQUITY | 10,534,970 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 120,797,279 |
| INCOME & EXPENSE | |
| Loan Income | 4,605,451 |
| Investment Income | 484,750 |
| Other Income | 1,051,296 |
| Total Employee Compensation & Benefits | 2,458,833 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 2,149,773 |
| Non-operating Income & (Expense) | 13,871 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 287,523 |
| Cost of Funds | 306,680 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,434,765 |
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