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L G & W FEDERAL CREDIT UNION

Dec, 31, 2023 — L G & W FEDERAL CREDIT UNION is a federal credit union headquartered in MEMPHIS, TN with 1 branch location and about $107.91 million in total assets. Opened 84 years ago in 1940, L G & W FEDERAL CREDIT UNION has about 5,495 members and employs 13 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 284084635
Name:L G & W FEDERAL CREDIT UNION
Address:
(Main Office)
1616 Whitten Rd
MEMPHIS, TN 38134
Phone:(901) 680-7995
Fax:(901) 680-7998
Website:https://www.lgwfcu.com
Branches:1 branch locations
Members:5,495
Credit Union Type:Federal Credit Union
Charter Number:3796
Membership Type:Service - Communications and Utilities
Corporate Credit Union:No
Year Opened:1940
Last Audited:Jun 01, 2023
FHLB Member:No
Low Income Designation:No
Assets:$107,908,529
CEO/Manager:Diana M Veazey
Chairperson:Cliff DeBerry

Call Report

  • Credit Builder
  • International Remittances

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 12,996,161
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 9,366,163
 Unsecured Loans 10,045,409
 Other Loans 14,421,986
 TOTAL LOANS 33,894,117
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -350,385
 Land And Building 2,377,874
 Other Fixed Assets 57,462
 NCUSIF Deposit 822,513
 All Other Assets 0
  TOTAL ASSETS 107,908,529
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 882,766
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 14,672,694
 Regular shares 26,353,504
 All Other Shares & Deposits 46,821,722
  TOTAL SHARES & DEPOSITS 87,847,920
  TOTAL LIABILITIES 88,733,377
 Regular Reserve 0
 Other Reserves -3,025,473
 Undivided Earnings 22,200,625
  TOTAL EQUITY 19,175,152
  TOTAL LIABILITIES, SHARES, & EQUITY 107,908,529
INCOME & EXPENSE  
 Loan Income 2,416,238
 Investment Income 1,676,811
 Other Income 463,969
 Total Employee Compensation & Benefits 1,531,271
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 1,318,825
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 279,600
 Cost of Funds 837,553
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 715,944
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