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.
Name: | GREAT LAKES CREDIT UNION |
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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 |
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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 |
ASSETS: | $ Amount |
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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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