Jun, 30, 2024 — AMERICAN LAKE CREDIT UNION is a federally insured state chartered credit union headquartered in LAKEWOOD, WA with 4 branch locations and about $70.68 million in total assets. Opened 77 years ago in 1948, AMERICAN LAKE CREDIT UNION has about 5,455 members and employs 16 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | AMERICAN LAKE CREDIT UNION |
|---|---|
| Address: (Main Office) | 9802 Gravelly Lake Dr SW LAKEWOOD, WA 98499-1704 |
| Phone: | (253) 584-0079 |
| Fax: | (253) 581-5035 |
| Website: | https://www.americanlake.org |
| Branches: | 4 branch locations |
| Members: | 5,455 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 68371 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1948 |
| Last Audited: | Dec 01, 2021 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $70,675,684 |
| CEO/Manager: | Kolin C McMann |
| Chairperson: | William Disbrow |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 4,263,349 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 1,631,413 |
| Unsecured Loans | 2,691,198 |
| Other Loans | 29,865,830 |
| TOTAL LOANS | 34,188,441 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -232,734 |
| Land And Building | 2,154,668 |
| Other Fixed Assets | 153,948 |
| NCUSIF Deposit | 606,067 |
| All Other Assets | 0 |
| TOTAL ASSETS | 70,675,684 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 387 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 627,865 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 11,919,830 |
| Regular shares | 28,757,486 |
| All Other Shares & Deposits | 19,987,922 |
| TOTAL SHARES & DEPOSITS | 60,665,238 |
| TOTAL LIABILITIES | 61,293,490 |
| Regular Reserve | 0 |
| Other Reserves | 5,040,000 |
| Undivided Earnings | 4,342,194 |
| TOTAL EQUITY | 9,382,194 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 70,675,684 |
| INCOME & EXPENSE | |
| Loan Income | 1,041,134 |
| Investment Income | 261,266 |
| Other Income | 206,014 |
| Total Employee Compensation & Benefits | 922,429 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 803,541 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 142,130 |
| Cost of Funds | 63,573 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -84,448 |
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