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LAKE SHORE FEDERAL CREDIT UNION

Mar, 31, 2021 — LAKE SHORE FEDERAL CREDIT UNION is a federal credit union headquartered in ANGOLA, NY with 1 branch location and about $21.91 million in total assets. Opened 54 years ago in 1967, LAKE SHORE FEDERAL CREDIT UNION has about 3,161 members and employs 6 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:LAKE SHORE FEDERAL CREDIT UNION
Address:
(Main Office)
PO BOX 227
ANGOLA, NY 14006
Phone:(716) 549-4150
Fax:(716) 549-2785
Website:http://lakeshore-fcu.net
Branches:1 branch locations
Members:3,161
Credit Union Type:Federal Credit Union
Charter Number:17878
Membership Type:Community credit unions, urban or rural, other than those designated 'low income'
Corporate Credit Union:No
Year Opened:1967
Last Audited:Dec 01, 2019
FHLB Member:No
Low Income Designation:No
Assets:$21,909,967
CEO/Manager:Susan George
Chairperson:LYNNE E PENFOLD

Call Report

  • Micro Consumer Loans
  • Overdraft Lines of Credit
  • Overdraft Protection
  • Real Estate Loans
  • Risk Based Loans
  • ATM/Debit Card Program
  • Commercial Share Accounts
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 6,282,836
TOTAL INVESTMENTS 6,473,811
Loans Held for Sale 0
 
 Real Estate Loans 1,555,957
 Unsecured Loans 1,017,365
 Other Loans 5,168,541
 TOTAL LOANS 7,741,863
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -86,882
 Land And Building 581,606
 Other Fixed Assets 62,625
 NCUSIF Deposit 145,804
 All Other Assets 708,304
  TOTAL ASSETS 21,909,967
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 118,062
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 5,742,202
 Regular shares 13,764,750
 All Other Shares & Deposits 155,928
  TOTAL SHARES & DEPOSITS 19,662,880
  TOTAL LIABILITIES 19,780,942
 Regular Reserve 89,546
 Other Reserves 0
 Undivided Earnings 2,039,479
  TOTAL EQUITY 2,129,025
  TOTAL LIABILITIES, SHARES, & EQUITY 21,909,967
INCOME & EXPENSE  
 Loan Income 84,503
 Investment Income 27,890
 Other Income 26,957
 Total Employee Compensation & Benefits 65,618
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 74,182
 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 1,038
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 36,647
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