Dec, 31, 2023 — GAIN FEDERAL CREDIT UNION is a federal credit union headquartered in BURBANK, CA with 2 branch locations and about $439.85 million in total assets. Opened 84 years ago in 1940, GAIN FEDERAL CREDIT UNION has about 20,721 members and employs 68 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | GAIN FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 1800 W Magnolia Blvd BURBANK, CA 91506-1726 |
| Phone: | (818) 846-1710 |
| Fax: | (818) 848-1526 |
| Website: | https://www.gainfcu.com |
| Branches: | 2 branch locations |
| Members: | 20,721 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 3943 |
|---|---|
| Membership Type: | Multiple common bond - Primarily federal, state, local government |
| Corporate Credit Union: | No |
| Year Opened: | 1940 |
| Last Audited: | Dec 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $439,848,683 |
| CEO/Manager: | Darin Guggenheimer |
| Chairperson: | Jess Talamantes |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 46,306,626 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 180,693,199 |
| Unsecured Loans | 16,618,976 |
| Other Loans | 70,467,808 |
| TOTAL LOANS | 267,779,983 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,284,999 |
| Land And Building | 9,883,911 |
| Other Fixed Assets | 1,251,630 |
| NCUSIF Deposit | 4,068,107 |
| All Other Assets | 51,832 |
| TOTAL ASSETS | 439,848,683 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 5,000,000 |
| Accounts Payable & Other Liabilities | 2,792,484 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 84,686,348 |
| Regular shares | 178,667,231 |
| All Other Shares & Deposits | 150,499,479 |
| TOTAL SHARES & DEPOSITS | 413,853,058 |
| TOTAL LIABILITIES | 421,645,542 |
| Regular Reserve | 0 |
| Other Reserves | -18,468,978 |
| Undivided Earnings | 36,672,119 |
| TOTAL EQUITY | 18,203,141 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 439,848,683 |
| INCOME & EXPENSE | |
| Loan Income | 11,197,228 |
| Investment Income | 3,708,850 |
| Other Income | 1,231,115 |
| Total Employee Compensation & Benefits | 7,115,030 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 6,315,909 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 150,000 |
| Cost of Funds | 3,731,857 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,856,142 |
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