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LAKE HURON CREDIT UNION

Mar, 31, 2021 — LAKE HURON CREDIT UNION is a federally insured state chartered credit union headquartered in SAGINAW, MI with 2 branch locations and about $67.85 million in total assets. Opened 62 years ago in 1959, LAKE HURON CREDIT UNION has about 6,790 members and employs 23 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: 272484551
Name:LAKE HURON CREDIT UNION
Address:
(Main Office)
P.O. BOX 5385
SAGINAW, MI 48603
Phone:(989) 752-5214
Fax:(989) 752-0203
Website:http://lhcu.org
Branches:2 branch locations
Members:6,790
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:61638
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1959
Last Audited:Sep 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$67,847,257
CEO/Manager:Beverly J Lee
Chairperson:Steve Willett

Call Report

  • Indirect Consumer Loans
  • Overdraft Lines of Credit
  • Overdraft Protection
  • Real Estate Loans
  • Share Secured Credit Cards
  • ATM/Debit Card Program
  • Commercial Share Accounts
  • Check Cashing
  • First Time Homebuyer Program
  • Health Savings Accounts
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 11,165,584
TOTAL INVESTMENTS 10,127,817
Loans Held for Sale 0
 
 Real Estate Loans 18,967,489
 Unsecured Loans 3,809,615
 Other Loans 20,278,437
 TOTAL LOANS 43,055,541
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -367,065
 Land And Building 1,932,867
 Other Fixed Assets 120,852
 NCUSIF Deposit 516,254
 All Other Assets 1,295,407
  TOTAL ASSETS 67,847,257
LIABILITIES & CAPITAL:  
 Dividends Payable 773
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 1,246,466
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 8,935,986
 Regular shares 19,808,261
 All Other Shares & Deposits 30,709,728
  TOTAL SHARES & DEPOSITS 59,453,975
  TOTAL LIABILITIES 60,701,214
 Regular Reserve 796,818
 Other Reserves 16,506
 Undivided Earnings 6,332,719
  TOTAL EQUITY 7,146,043
  TOTAL LIABILITIES, SHARES, & EQUITY 67,847,257
INCOME & EXPENSE  
 Loan Income 717,748
 Investment Income 48,096
 Other Income 195,437
 Total Employee Compensation & Benefits 304,982
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 354,693
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 35,968
 Cost of Funds 97,804
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 243,628
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