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GREAT LAKES CREDIT UNION

Dec, 31, 2023 — GREAT LAKES CREDIT UNION is a federally insured state chartered credit union headquartered in BANNOCKBURN, IL with 14 branch locations and about $1.32 billion in total assets. Opened 86 years ago in 1938, GREAT LAKES CREDIT UNION has about 80,830 members and employs 204 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 271984832
Name:GREAT LAKES CREDIT UNION
Address:
(Main Office)
2111 Waukegan Rd
BANNOCKBURN, IL 60015
Phone:(847) 578-7000
Fax:
Website:https://www.glcu.org
Branches:14 branch locations
Members:80,830
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:60238
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1938
Last Audited:Dec 01, 2022
FHLB Member:Yes
Low Income Designation:No
Assets:$1,316,795,208
CEO/Manager:Steven Bugg
Chairperson:Stephen M Park

Call Report

  • Credit Builder
  • First Time Homebuyer Program
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 79,866,494
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 921,917,883
 Unsecured Loans 23,950,639
 Other Loans 114,296,795
 TOTAL LOANS 1,060,165,317
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -9,949,724
 Land And Building 16,626,488
 Other Fixed Assets 1,081,358
 NCUSIF Deposit 9,069,622
 All Other Assets 2
  TOTAL ASSETS 1,316,795,208
LIABILITIES & CAPITAL:  
 Dividends Payable 132,011
 Notes & Interest Payable 190,914,183
 Accounts Payable & Other Liabilities 19,152,309
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 10,000,000
 Share Drafts 178,572,464
 Regular shares 292,895,017
 All Other Shares & Deposits 533,007,680
  TOTAL SHARES & DEPOSITS 1,004,475,162
  TOTAL LIABILITIES 1,224,962,090
 Regular Reserve 0
 Other Reserves -232,782
 Undivided Earnings 92,065,900
  TOTAL EQUITY 91,833,118
  TOTAL LIABILITIES, SHARES, & EQUITY 1,316,795,208
INCOME & EXPENSE  
 Loan Income 46,036,332
 Investment Income 7,337,640
 Other Income 4,320,115
 Total Employee Compensation & Benefits 21,891,884
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 19,116,084
 Non-operating Income & (Expense) -2,030,002
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense -306,729
 Cost of Funds 21,351,714
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 2,707,607
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