Dec, 31, 2022 — LM FEDERAL CREDIT UNION is a federal credit union headquartered in BALTIMORE, MD with 1 branch location and about $53.54 million in total assets. Opened 74 years ago in 1949, LM FEDERAL CREDIT UNION has about 3,694 members and employs 12 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | LM FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 101 CHESAPEAKE PARK PLZ BALTIMORE, MD 21220 |
| Phone: | (410) 687-5240 |
| Fax: | (410) 687-1322 |
| Website: | https://www.lmfcu.org |
| Branches: | 1 branch locations |
| Members: | 3,694 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 6039 |
|---|---|
| Membership Type: | Multiple common bond - Primarily other manufacturing |
| Corporate Credit Union: | No |
| Year Opened: | 1949 |
| Last Audited: | Dec 01, 2021 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $53,535,588 |
| CEO/Manager: | MARK T BOLD |
| Chairperson: | ROBERT J CASWELL |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 18,628,031 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 13,349,249 |
| Unsecured Loans | 1,599,228 |
| Other Loans | 14,975,319 |
| TOTAL LOANS | 29,923,796 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -46,740 |
| Land And Building | 0 |
| Other Fixed Assets | 88,270 |
| NCUSIF Deposit | 470,620 |
| All Other Assets | 0 |
| TOTAL ASSETS | 53,535,588 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 1 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 174,235 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 7,739,252 |
| Regular shares | 27,893,488 |
| All Other Shares & Deposits | 13,873,856 |
| TOTAL SHARES & DEPOSITS | 49,506,596 |
| TOTAL LIABILITIES | 49,680,832 |
| Regular Reserve | 0 |
| Other Reserves | 954,209 |
| Undivided Earnings | 2,900,547 |
| TOTAL EQUITY | 3,854,756 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 53,535,588 |
| INCOME & EXPENSE | |
| Loan Income | 831,499 |
| Investment Income | 138,754 |
| Other Income | 79,147 |
| Total Employee Compensation & Benefits | 523,207 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 415,942 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
| Cost of Funds | 44,713 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 230,643 |
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