Dec, 31, 2023 — LINCOLN PARK COMMUNITY CREDIT UNION is a federally insured state chartered credit union headquartered in LINCOLN PARK, MI with 1 branch location and about $63.64 million in total assets. Opened 88 years ago in 1936, LINCOLN PARK COMMUNITY CREDIT UNION has about 3,020 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: | LINCOLN PARK COMMUNITY CREDIT UNION |
|---|---|
| Address: (Main Office) | 1400 Emmons Blvd LINCOLN PARK, MI 48146-3836 |
| Phone: | (313) 389-2300 |
| Fax: | (313) 928-9611 |
| Website: | https://www.lpccu.coop |
| Branches: | 1 branch locations |
| Members: | 3,020 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 61701 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1936 |
| Last Audited: | Jul 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $63,635,569 |
| CEO/Manager: | Crystal L Hennig |
| Chairperson: | Thomas E Karnes |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 3,285,138 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 5,196,980 |
| Unsecured Loans | 2,616,369 |
| Other Loans | 3,357,176 |
| TOTAL LOANS | 11,170,525 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -141,872 |
| Land And Building | 386,600 |
| Other Fixed Assets | 62,589 |
| NCUSIF Deposit | 540,947 |
| All Other Assets | 0 |
| TOTAL ASSETS | 63,635,569 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 170,927 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 10,248,674 |
| Regular shares | 16,368,797 |
| All Other Shares & Deposits | 32,275,434 |
| TOTAL SHARES & DEPOSITS | 58,892,905 |
| TOTAL LIABILITIES | 59,063,832 |
| Regular Reserve | 0 |
| Other Reserves | -5,595,625 |
| Undivided Earnings | 10,167,362 |
| TOTAL EQUITY | 4,571,737 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 63,635,569 |
| INCOME & EXPENSE | |
| Loan Income | 489,525 |
| Investment Income | 1,392,351 |
| Other Income | 193,796 |
| Total Employee Compensation & Benefits | 521,630 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 930,953 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
| Cost of Funds | 247,526 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 604,999 |
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