Dec, 31, 2023 — LEHIGH VALLEY EDUCATORS CREDIT UNION is a federally insured state chartered credit union headquartered in ALLENTOWN, PA with 2 branch locations and about $412.24 million in total assets. Opened 90 years ago in 1934, LEHIGH VALLEY EDUCATORS CREDIT UNION has about 15,501 members and employs 29 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | LEHIGH VALLEY EDUCATORS CREDIT UNION |
|---|---|
| Address: (Main Office) | 3720 Hamilton Blvd ALLENTOWN, PA 18103 |
| Phone: | (610) 820-0145 |
| Fax: | (610) 435-4374 |
| Website: | https://www.lvecu.org |
| Branches: | 2 branch locations |
| Members: | 15,501 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 64606 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1934 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $412,240,940 |
| CEO/Manager: | Rosemarie E Krantz |
| Chairperson: | William Ayers |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 39,374,598 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 62,829,790 |
| Unsecured Loans | 28,031,552 |
| Other Loans | 26,521,046 |
| TOTAL LOANS | 117,382,388 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -865,864 |
| Land And Building | 4,215,906 |
| Other Fixed Assets | 239,725 |
| NCUSIF Deposit | 3,443,276 |
| All Other Assets | 0 |
| TOTAL ASSETS | 412,240,940 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 674,762 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 50,015,599 |
| Regular shares | 122,960,562 |
| All Other Shares & Deposits | 191,245,871 |
| TOTAL SHARES & DEPOSITS | 364,222,033 |
| TOTAL LIABILITIES | 364,898,738 |
| Regular Reserve | 0 |
| Other Reserves | -18,754,426 |
| Undivided Earnings | 66,096,628 |
| TOTAL EQUITY | 47,342,202 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 412,240,940 |
| INCOME & EXPENSE | |
| Loan Income | 6,299,097 |
| Investment Income | 7,779,775 |
| Other Income | 248,457 |
| Total Employee Compensation & Benefits | 2,663,223 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 4,240,084 |
| Non-operating Income & (Expense) | -1 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 241,156 |
| Cost of Funds | 4,374,784 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 792,633 |
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