Sep, 30, 2025 — GREAT LAKES CREDIT UNION is a federally insured state chartered credit union headquartered in BANNOCKBURN, IL with 21 branch locations and about $1.42 billion in total assets. Opened 88 years ago in 1938, GREAT LAKES CREDIT UNION has about 110,606 members and employs 266 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | GREAT LAKES CREDIT UNION |
|---|---|
| Address: (Main Office) | 2111 Waukegan Rd BANNOCKBURN, IL 60015 |
| Phone: | (847) 578-7000 |
| Fax: | |
| Website: | https://www.glcu.org |
| Branches: | 21 branch locations |
| Members: | 110,606 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 60238 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1938 |
| Last Audited: | Dec 01, 2024 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $1,422,909,203 |
| CEO/Manager: | Steven Bugg |
| Chairperson: | Patrice Price |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 96,034,525 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 447,000 |
| Real Estate Loans | 976,139,225 |
| Unsecured Loans | 38,208,023 |
| Other Loans | 87,097,527 |
| TOTAL LOANS | 1,101,444,775 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -8,336,915 |
| Land And Building | 20,192,270 |
| Other Fixed Assets | 3,895,315 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 11,834,380 |
| All Other Assets | 72,240 |
| TOTAL ASSETS | 1,422,909,203 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 87,687 |
| Notes & Interest Payable | 66,519,004 |
| Accounts Payable & Other Liabilities | 30,521,140 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 15,000,000 |
| Share Drafts | 225,912,977 |
| Regular shares | 384,098,015 |
| All Other Shares & Deposits | 592,949,445 |
| TOTAL SHARES & DEPOSITS | 1,202,960,438 |
| TOTAL LIABILITIES | 1,315,344,909 |
| Regular Reserve | 0 |
| Other Reserves | 13,344,280 |
| Undivided Earnings | 94,220,014 |
| TOTAL EQUITY | 107,564,294 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 1,422,909,203 |
| INCOME & EXPENSE | |
| Loan Income | 42,721,265 |
| Investment Income | 14,096,711 |
| Other Income | 3,292,851 |
| Total Employee Compensation & Benefits | 19,814,430 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 23,674,810 |
| Non-operating Income & (Expense) | -2,551,361 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 3,515,987 |
| Cost of Funds | 19,098,434 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 5,302,137 |
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