Dec, 31, 2023 — LAMOURE CREDIT UNION is a federally insured state chartered credit union headquartered in LAMOURE, ND with 1 branch location and about $34.92 million in total assets. Opened 84 years ago in 1940, LAMOURE CREDIT UNION has about 1,144 members and employs 4 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | LAMOURE CREDIT UNION |
|---|---|
| Address: (Main Office) | 203 7th St SE LAMOURE, ND 58458 |
| Phone: | (701) 883-5241 |
| Fax: | (701) 883-5756 |
| Website: | https://www.lamourecu.com |
| Branches: | 1 branch locations |
| Members: | 1,144 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 62218 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1940 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $34,917,736 |
| CEO/Manager: | Eric P Musland |
| Chairperson: | Barry Townsend |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 7,874,774 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 2,569,390 |
| Unsecured Loans | 66,349 |
| Other Loans | 14,996,491 |
| TOTAL LOANS | 17,632,230 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -162,000 |
| Land And Building | 425,785 |
| Other Fixed Assets | 0 |
| NCUSIF Deposit | 276,085 |
| All Other Assets | 0 |
| TOTAL ASSETS | 34,917,736 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 72,465 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 11,850,273 |
| Regular shares | 8,232,852 |
| All Other Shares & Deposits | 9,466,467 |
| TOTAL SHARES & DEPOSITS | 29,549,592 |
| TOTAL LIABILITIES | 29,622,057 |
| Regular Reserve | 0 |
| Other Reserves | 384,679 |
| Undivided Earnings | 4,911,000 |
| TOTAL EQUITY | 5,295,679 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 34,917,736 |
| INCOME & EXPENSE | |
| Loan Income | 930,536 |
| Investment Income | 604,784 |
| Other Income | 87,780 |
| Total Employee Compensation & Benefits | 419,538 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 300,784 |
| Non-operating Income & (Expense) | 9,075 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
| Cost of Funds | 192,493 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 719,360 |
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