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SOUTHERN LAKES CREDIT UNION

Dec, 31, 2023 — SOUTHERN LAKES CREDIT UNION is a federally insured state chartered credit union headquartered in KENOSHA, WI with 3 branch locations and about $106.53 million in total assets. Opened 89 years ago in 1935, SOUTHERN LAKES CREDIT UNION has about 9,885 members and employs 28 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:SOUTHERN LAKES CREDIT UNION
Address:
(Main Office)
3000 80th St
KENOSHA, WI 53142
Phone:(262) 694-1600
Fax:(262) 694-5546
Website:https://southernlakescu.org
Branches:3 branch locations
Members:9,885
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:66707
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1935
Last Audited:Jun 01, 2023
FHLB Member:Yes
Low Income Designation:No
Assets:$106,526,105
CEO/Manager:John Lyon
Chairperson:John Morrissey

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 18,866,052
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 12,835,864
 Unsecured Loans 2,771,973
 Other Loans 50,118,286
 TOTAL LOANS 65,726,122
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -445,526
 Land And Building 634,006
 Other Fixed Assets 51,020
 NCUSIF Deposit 1,000,635
 All Other Assets 0
  TOTAL ASSETS 106,526,105
LIABILITIES & CAPITAL:  
 Dividends Payable 309
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 1,388,913
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 21,437,001
 Regular shares 42,775,984
 All Other Shares & Deposits 31,282,682
  TOTAL SHARES & DEPOSITS 95,495,670
  TOTAL LIABILITIES 96,884,892
 Regular Reserve 0
 Other Reserves -28,269
 Undivided Earnings 9,669,482
  TOTAL EQUITY 9,641,213
  TOTAL LIABILITIES, SHARES, & EQUITY 106,526,105
INCOME & EXPENSE  
 Loan Income 2,656,483
 Investment Income 1,736,919
 Other Income 310,727
 Total Employee Compensation & Benefits 1,743,988
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 1,884,602
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 256,536
 Cost of Funds 178,180
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 1,117,503
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