Sep, 30, 2025 — LAKE COUNTY EDUCATIONAL FEDERAL CREDIT UNION is a federal credit union headquartered in PAINESVILLE, OH with 3 branch locations and about $37.08 million in total assets. Opened 31 years ago in 1995, LAKE COUNTY EDUCATIONAL FEDERAL CREDIT UNION has about 3,555 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.theoryfcu.org |
| Branches: | 3 branch locations |
| Members: | 3,555 |
| 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, 2025 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $37,079,884 |
| CEO/Manager: | Miranda McConoughey |
| Chairperson: | Mary Ann Bittner |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 3,576,476 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 6,040,518 |
| Unsecured Loans | 2,755,251 |
| Other Loans | 10,248,778 |
| TOTAL LOANS | 19,044,546 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -85,092 |
| Land And Building | 48,465 |
| Other Fixed Assets | 79,347 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 391,565 |
| All Other Assets | 0 |
| TOTAL ASSETS | 37,079,884 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 179,497 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 7,595,719 |
| Regular shares | 19,897,191 |
| All Other Shares & Deposits | 7,233,193 |
| TOTAL SHARES & DEPOSITS | 34,726,103 |
| TOTAL LIABILITIES | 34,905,600 |
| Regular Reserve | 0 |
| Other Reserves | -496,723 |
| Undivided Earnings | 2,671,007 |
| TOTAL EQUITY | 2,174,284 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 37,079,884 |
| INCOME & EXPENSE | |
| Loan Income | 968,743 |
| Investment Income | 321,604 |
| Other Income | 119,520 |
| Total Employee Compensation & Benefits | 493,103 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 536,295 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 33,971 |
| Cost of Funds | 111,998 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 234,500 |
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