Dec, 31, 2023 — CREDIT UNION OF SOUTHERN CALIFORNIA (CU SOCAL) is a federally insured state chartered credit union headquartered in ANAHEIM, CA with 23 branch locations and about $2.96 billion in total assets. Opened 70 years ago in 1954, CREDIT UNION OF SOUTHERN CALIFORNIA (CU SOCAL) has about 154,726 members and employs 396 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | CREDIT UNION OF SOUTHERN CALIFORNIA |
|---|---|
| Address: (Main Office) | 8101 E Kaiser Blvd ANAHEIM, CA 92808-2243 |
| Phone: | (562) 698-8326 |
| Fax: | (714) 671-2762 |
| Website: | https://www.cusocal.org |
| Branches: | 23 branch locations |
| Members: | 154,726 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 68456 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1954 |
| Last Audited: | Jun 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $2,958,463,252 |
| CEO/Manager: | Dave Gunderson |
| Chairperson: | Chris George |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 332,596,850 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 1,035,053,889 |
| Unsecured Loans | 164,480,954 |
| Other Loans | 480,435,929 |
| TOTAL LOANS | 1,679,970,772 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -28,852,381 |
| Land And Building | 15,743,670 |
| Other Fixed Assets | 5,033,324 |
| NCUSIF Deposit | 22,932,762 |
| All Other Assets | 0 |
| TOTAL ASSETS | 2,958,463,252 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 425,000,000 |
| Accounts Payable & Other Liabilities | 46,070,615 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 447,925,414 |
| Regular shares | 834,767,609 |
| All Other Shares & Deposits | 1,045,722,281 |
| TOTAL SHARES & DEPOSITS | 2,328,415,304 |
| TOTAL LIABILITIES | 2,799,491,297 |
| Regular Reserve | 0 |
| Other Reserves | -83,895,842 |
| Undivided Earnings | 242,867,797 |
| TOTAL EQUITY | 158,971,955 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 2,958,463,252 |
| INCOME & EXPENSE | |
| Loan Income | 84,185,548 |
| Investment Income | 46,863,635 |
| Other Income | 14,367,495 |
| Total Employee Compensation & Benefits | 44,261,253 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 45,456,216 |
| Non-operating Income & (Expense) | 3,319,986 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 11,857,943 |
| Cost of Funds | 49,691,884 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 28,213,096 |
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