Sep, 30, 2025 — LAKE SUPERIOR CREDIT UNION is a federally insured state chartered credit union headquartered in ONTONAGON, MI with 1 branch location and about $10.64 million in total assets. Opened 67 years ago in 1959, LAKE SUPERIOR CREDIT UNION has about 1,333 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: | LAKE SUPERIOR CREDIT UNION |
|---|---|
| Address: (Main Office) | 801 River St ONTONAGON, MI 49953-1620 |
| Phone: | (906) 884-2069 |
| Fax: | (906) 884-2929 |
| Website: | https://www.lscu.virtualcu.net |
| Branches: | 1 branch locations |
| Members: | 1,333 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 65085 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1959 |
| Last Audited: | Sep 01, 2024 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $10,636,656 |
| CEO/Manager: | Renee C Niemi |
| Chairperson: | Peggy Elmblad |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,135,830 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 579,743 |
| Other Loans | 4,724,484 |
| TOTAL LOANS | 5,304,227 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -9,621 |
| Land And Building | 8,000 |
| Other Fixed Assets | 21,388 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 87,557 |
| All Other Assets | 0 |
| TOTAL ASSETS | 10,636,656 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 12,387 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 1,481,039 |
| Regular shares | 7,411,798 |
| All Other Shares & Deposits | 307,814 |
| TOTAL SHARES & DEPOSITS | 9,200,651 |
| TOTAL LIABILITIES | 9,213,038 |
| Regular Reserve | 0 |
| Other Reserves | 106,036 |
| Undivided Earnings | 1,317,582 |
| TOTAL EQUITY | 1,423,618 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 10,636,656 |
| INCOME & EXPENSE | |
| Loan Income | 225,073 |
| Investment Income | 165,993 |
| Other Income | 54,121 |
| Total Employee Compensation & Benefits | 108,272 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 125,163 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
| Cost of Funds | 10,911 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 202,833 |
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