2023-05-09T11:27:44-07:00 2022-12-31 990 2022-01-01 381999910 CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN CRED 5172630851 615 West Maple Avenue Adrian MI 492211630 Ben Neal President/CEO 5172630851 2023-05-01 1 1 11 0 AAL2 2022 2023-04-26 12:10:37Z Lenco Credit Union Ben Neal 615 W Maple Ave Adrian MI 49221 3921015 0 X www.lenco.org X 1970 MI Lenco Credit Union is a member-owned financial cooperative. It is our mission to provide member-owners with the highest quality financial services allowed within the realm of safe and sound business practices; to encourage thrift, savings, and the wise use of credit; to promote the cooperative ideals of the credit union philosophy; and to promote and support the people, agencies, and organizations of Lenawee County. 7746 7746 21 9 0 0 0 0 3273905 3431631 303981 489384 0 0 3577886 3921015 0 0 0 0 1313235 1463686 0 0 0 1513127 1558711 2826362 3022397 751524 898618 120477304 122648622 953817 1208634 119523487 121439988 Lenco Credit Union is a member-owned financial cooperative. It is our mission to provide member-owners with the highest quality financial services allowed within the realm of safe and sound business practices; to encourage thrift, savings, and the wise use of credit; to promote the cooperative ideals of the credit union philosophy; and to promote and support the people, agencies, and organizations of Lenawee County. 0 0 Credit Union Programs: State-chartered not-for-profit financial institution (credit union) serving 7756 member-owners in Lenawee County, Michigan. 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 21 1 0 0 0 0 0 0 0 0 X 7746 7746 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 MI X Lenco Credit Union 5172630851 615 West Maple Ave Adrian MI 49221 Ben Neal President CEO 50 0 X X X 129465 0 0 Robert Wright Board Member 1 0 X 0 0 0 Sam Ewing Chairman 1 0 X 0 0 0 Keith Dersham Board Member 1 0 X 0 0 0 Deanna Hartley Board Secretary 1 0 X 0 0 0 Cindy Prue Board Assistant Treasurer 1 0 X 0 0 0 David Chambers Credit Committee Member 1 0 X 0 0 0 Michael Crafts Board Member 1 0 X 0 0 0 Wayland Echelbarger Credit Committee Member 1 0 X 0 0 0 Linda Benschoter Credit Committee Member 1 0 X 0 0 0 Kara Husband Board Treasurer 1 0 X 0 0 0 Eileen Loveland Credit Committee Member 1 0 X 0 0 0 129465 0 0 1 0 0 0 0 0 Member Loan Income 522291 2595694 2595694 0 0 Member Service Fees 522130 685648 685648 0 0 Miscellaneaous 522130 150289 150289 0 0 0 0 0 0 3431631 489384 489384 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 3921015 3921015 0 0 0 0 0 0 0 0 1079617 119453 181138 83478 20252 0 40829 262803 226125 175911 8684 106720 33257 Dividends Paid to Members 298553 Loan Servicing 184759 200818 3022397 0 0 0 1007426 1147045 13294264 1920314 0 0 1504016 1931043 67029438 74855044 149260 210834 5212189 2406711 2851228 2805478 34425401 39778864 216271 120477304 122648622 953817 1208634 953817 1208634 X 108352478 109370360 0 0 11171009 12069628 119523487 121439988 120477304 122648622 X 898618 0 0 0 0 1017883 X 1 X 1 X 1 0 711103 0 711103 3171474 0 1271022 1900452 206010 0 136912 69098 1123602 0 998777 124825 0 0 0 0 2805478 Federal Agency Security 40 F Bank & Credit Union CDs 37386000 C Cash Value Life Insurance 620150 C Corporate CU Capital 306000 C NCUA Share Insurance Fund 1100573 C CUSO Stocks 366101 C 39778864 Ben Neal CEO Credit Card X 10000 2835 0 1 1 Ben Neal CEO Automobile X 19652 7569 0 1 1 Ben Neal CEO Mortgage X 75000 13514 0 1 1 Keith Dersham Board Member HELOC X 20000 16133 0 1 1 Kara Husband Board Member Home Equity Loan X 15500 10253 0 1 1 Kara Husband Board Member Mortgage X 104000 66902 0 1 1 Ben Neal CEO CASD X 950000 1109337 0 1 1 Linda Benschoter Credit Committee Automobile X 41912 36496 0 1 1 Linda Benschoter Credit Committee Mortgage X 168000 164201 0 1 1 Eileen Loveland Credit Committee RV X 18273 12413 0 1 1 Eileen Loveland Credit Committee Automobile X 69322 56947 0 1 1 Eileen Loveland Credit Committee Automobile X 78715 76218 0 1 1 Eileen Loveland Credit Committee Mortgage X 178500 158129 0 1 1 Eileen Loveland Credit Committee HELOC X 62000 49879 0 1 1 Sammy Ewing Board Member Credit Card X 7500 566 0 1 1 David Chambers Credit Committee Credit Card X 3000 117 0 1 1 Keith Dersham Board Member Credit Card X 10500 76 0 1 1 Eileen Loveland Credit Committee Credit Card X 10000 608 0 1 1 1782193 Form 990, Part VI, Section A, Line 6 Members Form 990, Part VI, Section A, Line 7a Yes Form 990, Part VI, Section A, Line 7b No Form 990, Part VI, Section B, Line 11b Form reviewed by VP before filing Form 990, Part VI, Section B, Line 12c reviews completed by Oversight Committee Form 990, Part VI, Section B, Line 15 Reviewed by Personnel Committee Form 990, Part VI, Section C, Line 19 Monthly financial statements are posted in credit union lobby. Members may attend monthly board meetings. Form 990, Part XI, Line 9 Growth in member deposits