Sep, 30, 2025 — LAFCU CREDIT UNION (LAFCU) is a federally insured state chartered credit union headquartered in LANSING, MI with 10 branch locations and about $1.14 billion in total assets. Opened 90 years ago in 1936, LAFCU CREDIT UNION (LAFCU) has about 73,562 members and employs 191 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | LAFCU CREDIT UNION |
|---|---|
| Address: (Main Office) | 106 N Marketplace Blvd LANSING, MI 48917-7753 |
| Phone: | (517) 622-6600 |
| Fax: | (517) 622-6909 |
| Website: | https://www.lafcu.com |
| Branches: | 10 branch locations |
| Members: | 73,562 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 68632 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1936 |
| Last Audited: | Dec 01, 2024 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $1,139,990,300 |
| CEO/Manager: | Patrick Spyke |
| Chairperson: | Randall Freeman |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 91,308,588 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 258,918,940 |
| Unsecured Loans | 86,884,195 |
| Other Loans | 439,119,553 |
| TOTAL LOANS | 786,306,118 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -9,608,745 |
| Land And Building | 16,960,603 |
| Other Fixed Assets | 6,043,995 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 8,140,278 |
| All Other Assets | 2,185,471 |
| TOTAL ASSETS | 1,139,990,300 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 9,386,994 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 136,577,451 |
| Regular shares | 254,331,109 |
| All Other Shares & Deposits | 516,336,145 |
| TOTAL SHARES & DEPOSITS | 907,244,706 |
| TOTAL LIABILITIES | 916,631,700 |
| Regular Reserve | 0 |
| Other Reserves | -3,329,816 |
| Undivided Earnings | 226,688,416 |
| TOTAL EQUITY | 223,358,600 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 1,139,990,300 |
| INCOME & EXPENSE | |
| Loan Income | 37,753,762 |
| Investment Income | 9,273,692 |
| Other Income | 1,859,087 |
| Total Employee Compensation & Benefits | 15,940,247 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 16,990,580 |
| Non-operating Income & (Expense) | 74,669 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 6,824,432 |
| Cost of Funds | 10,317,940 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 7,046,393 |
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