Sep, 30, 2022 — L&N EMPLOYEES CREDIT UNION is a federally insured state chartered credit union headquartered in BIRMINGHAM, AL with 2 branch locations and about $10.07 million in total assets. Opened 71 years ago in 1952, L&N EMPLOYEES CREDIT UNION has about 1,526 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: | L&N EMPLOYEES CREDIT UNION |
|---|---|
| Address: (Main Office) | 4101 Vanderbilt Rd BIRMINGHAM, AL 35217 |
| Phone: | (205) 841-2544 |
| Fax: | (205) 849-6843 |
| Website: | https://www.mylncu.com |
| Branches: | 2 branch locations |
| Members: | 1,526 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 62356 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1952 |
| Last Audited: | Mar 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $10,073,806 |
| CEO/Manager: | Michelle Cooper |
| Chairperson: | Earnest Long Sr |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,097,385 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 1,703,501 |
| Unsecured Loans | 404,635 |
| Other Loans | 3,737,367 |
| TOTAL LOANS | 5,845,503 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -40,609 |
| Land And Building | 88,648 |
| Other Fixed Assets | 43,304 |
| NCUSIF Deposit | 81,167 |
| All Other Assets | 51,640 |
| TOTAL ASSETS | 10,073,806 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 363 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 106,670 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 1,155,297 |
| Regular shares | 3,796,015 |
| All Other Shares & Deposits | 3,544,826 |
| TOTAL SHARES & DEPOSITS | 8,496,138 |
| TOTAL LIABILITIES | 8,603,171 |
| Regular Reserve | 0 |
| Other Reserves | 65,827 |
| Undivided Earnings | 1,404,808 |
| TOTAL EQUITY | 1,470,635 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 10,073,806 |
| INCOME & EXPENSE | |
| Loan Income | 292,796 |
| Investment Income | 23,218 |
| Other Income | 95,047 |
| Total Employee Compensation & Benefits | 213,644 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 207,179 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
| Cost of Funds | 16,424 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -26,186 |
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