Sep, 30, 2025 — LAKESHORE FEDERAL CREDIT UNION is a federal credit union headquartered in MUSKEGON, MI with 1 branch location and about $44.52 million in total assets. Opened 73 years ago in 1953, LAKESHORE FEDERAL CREDIT UNION has about 2,600 members and employs 8 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | LAKESHORE FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 2182 Lakeshore Dr MUSKEGON, MI 49441-1414 |
| Phone: | (231) 755-1202 |
| Fax: | (231) 755-0539 |
| Website: | https://www.lakeshorefcu.com |
| Branches: | 1 branch locations |
| Members: | 2,600 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 8709 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1953 |
| Last Audited: | Sep 01, 2024 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $44,523,597 |
| CEO/Manager: | Jackie G Knowlton |
| Chairperson: | Faisel Abdelkader |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 3,037,805 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 6,698,241 |
| Unsecured Loans | 1,121,759 |
| Other Loans | 5,358,224 |
| TOTAL LOANS | 13,383,899 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -27,267 |
| Land And Building | 1,008,135 |
| Other Fixed Assets | 75,346 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 352,028 |
| All Other Assets | 0 |
| TOTAL ASSETS | 44,523,597 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 60,099 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 242,475 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 5,980,806 |
| Regular shares | 12,995,125 |
| All Other Shares & Deposits | 20,101,091 |
| TOTAL SHARES & DEPOSITS | 39,077,023 |
| TOTAL LIABILITIES | 39,379,597 |
| Regular Reserve | 0 |
| Other Reserves | -17,064 |
| Undivided Earnings | 5,161,064 |
| TOTAL EQUITY | 5,144,000 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 44,523,597 |
| INCOME & EXPENSE | |
| Loan Income | 511,341 |
| Investment Income | 794,759 |
| Other Income | 225,190 |
| Total Employee Compensation & Benefits | 416,201 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 519,294 |
| Non-operating Income & (Expense) | 10 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 28,786 |
| Cost of Funds | 488,639 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 127,017 |
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