Dec, 31, 2023 — LAKE CHEM COMMUNITY FEDERAL CREDIT UNION is a federal credit union headquartered in BENTON, KY with 3 branch locations and about $90.40 million in total assets. Opened 53 years ago in 1971, LAKE CHEM COMMUNITY FEDERAL CREDIT UNION has about 13,626 members and employs 23 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 CHEM COMMUNITY FEDERAL CREDIT UNION |
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Address: (Main Office) | 35 US Highway 68 E BENTON, KY 42025 |
Phone: | (270) 527-4389 |
Fax: | (270) 527-4141 |
Website: | https://www.lakechemfcu.org |
Branches: | 3 branch locations |
Members: | 13,626 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 20641 |
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Membership Type: | Community - Rural District |
Corporate Credit Union: | No |
Year Opened: | 1971 |
Last Audited: | Mar 01, 2023 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $90,402,994 |
CEO/Manager: | Connie Evans |
Chairperson: | Mark Shoulta |
ASSETS: | $ Amount |
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Cash & Equivalents | 2,793,330 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 29,234,888 |
Unsecured Loans | 1,568,739 |
Other Loans | 41,592,873 |
TOTAL LOANS | 72,396,500 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -168,035 |
Land And Building | 3,436,007 |
Other Fixed Assets | 192,996 |
NCUSIF Deposit | 745,434 |
All Other Assets | 0 |
TOTAL ASSETS | 90,402,994 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 155,685 |
Notes & Interest Payable | 667,106 |
Accounts Payable & Other Liabilities | 56,541 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 17,065,926 |
Regular shares | 39,709,355 |
All Other Shares & Deposits | 24,653,508 |
TOTAL SHARES & DEPOSITS | 81,428,788 |
TOTAL LIABILITIES | 82,308,120 |
Regular Reserve | 0 |
Other Reserves | 0 |
Undivided Earnings | 8,094,874 |
TOTAL EQUITY | 8,094,874 |
TOTAL LIABILITIES, SHARES, & EQUITY | 90,402,994 |
INCOME & EXPENSE | |
Loan Income | 3,405,119 |
Investment Income | 343,624 |
Other Income | 471,496 |
Total Employee Compensation & Benefits | 1,287,685 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 2,025,426 |
Non-operating Income & (Expense) | 9,500 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 117,372 |
Cost of Funds | 814,934 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 1,156,749 |
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» See also Statement of Financial Condition