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National Credit Union Service Organization

LOCOGA FEDERAL CREDIT UNION

Dec, 31, 2023 — LOCOGA FEDERAL CREDIT UNION is a federal credit union headquartered in VALDOSTA, GA with 2 branch locations and about $4.61 million in total assets. Opened 64 years ago in 1960, LOCOGA FEDERAL CREDIT UNION has about 710 members offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:LOCOGA FEDERAL CREDIT UNION
Address:
(Main Office)
1592 Norman Dr
VALDOSTA, GA 31601-3581
Phone:(229) 244-4513
Fax:(229) 244-5995
Website:https://www.locogafcu.com
Branches:2 branch locations
Members:710
Credit Union Type:Federal Credit Union
Charter Number:13516
Membership Type:Educational
Corporate Credit Union:No
Year Opened:1960
Last Audited:Dec 01, 2023
FHLB Member:No
Low Income Designation:No
Assets:$4,609,055
CEO/Manager:Peggy A Daniels
Chairperson:Calvin M Walker

Call Report

  • Payday Alternative Loans (PAL Loans)

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 487,756
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 801,250
 Other Loans 2,190,491
 TOTAL LOANS 2,991,741
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -7,647
 Land And Building 0
 Other Fixed Assets 21,989
 NCUSIF Deposit 43,439
 All Other Assets 0
  TOTAL ASSETS 4,609,055
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 65,492
 Accounts Payable & Other Liabilities 5,460
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 454,518
 Regular shares 2,298,248
 All Other Shares & Deposits 1,349,307
  TOTAL SHARES & DEPOSITS 4,102,073
  TOTAL LIABILITIES 4,173,025
 Regular Reserve 0
 Other Reserves 63,229
 Undivided Earnings 372,801
  TOTAL EQUITY 436,030
  TOTAL LIABILITIES, SHARES, & EQUITY 4,609,055
INCOME & EXPENSE  
 Loan Income 197,685
 Investment Income 34,078
 Other Income 30,581
 Total Employee Compensation & Benefits 59,914
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 115,720
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 2,070
 Cost of Funds 25,081
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 60,834
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