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LAKE COUNTY EDUCATIONAL FEDERAL CREDIT UNION

Jun, 30, 2021 — LAKE COUNTY EDUCATIONAL FEDERAL CREDIT UNION is a federal credit union headquartered in PAINESVILLE, OH with 3 branch locations and about $32.80 million in total assets. Opened 26 years ago in 1995, LAKE COUNTY EDUCATIONAL FEDERAL CREDIT UNION has about 3,904 members and employs 11 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 COUNTY EDUCATIONAL FEDERAL CREDIT UNION
Address:
(Main Office)
1595 MENTOR AVE
PAINESVILLE, OH 44077
Phone:(440) 352-4732
Fax:(440) 352-3732
Website:https://www.lakecountyedufcu.org
Branches:3 branch locations
Members:3,904
Credit Union Type:Federal Credit Union
Charter Number:24545
Membership Type:Multiple common bond - Primarily educational
Corporate Credit Union:No
Year Opened:1995
Last Audited:Mar 01, 2021
FHLB Member:No
Low Income Designation:No
Assets:$32,795,914
CEO/Manager:Miranda McConoughey
Chairperson:Mary Ann Bittner

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 1,319,435
TOTAL INVESTMENTS 16,794,271
Loans Held for Sale 0
 
 Real Estate Loans 4,109,431
 Unsecured Loans 2,036,801
 Other Loans 7,822,387
 TOTAL LOANS 13,968,619
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -33,577
 Land And Building 140,898
 Other Fixed Assets 99,972
 NCUSIF Deposit 286,262
 All Other Assets 220,034
  TOTAL ASSETS 32,795,914
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 66,480
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 5,269,876
 Regular shares 18,378,262
 All Other Shares & Deposits 6,832,515
  TOTAL SHARES & DEPOSITS 30,480,653
  TOTAL LIABILITIES 30,547,133
 Regular Reserve 471,914
 Other Reserves 438,613
 Undivided Earnings 1,338,254
  TOTAL EQUITY 2,248,781
  TOTAL LIABILITIES, SHARES, & EQUITY 32,795,914
INCOME & EXPENSE  
 Loan Income 352,626
 Investment Income 83,417
 Other Income 59,724
 Total Employee Compensation & Benefits 241,660
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 270,108
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 5,715
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -21,716
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