Dec, 31, 2023 — DESERT VALLEYS FEDERAL CREDIT UNION is a federal credit union headquartered in RIDGECREST, CA with 1 branch location and about $64.36 million in total assets. Opened 78 years ago in 1946, DESERT VALLEYS FEDERAL CREDIT UNION has about 5,138 members and employs 17 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | DESERT VALLEYS FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 100 E Ward Ave RIDGECREST, CA 93555-2668 |
| Phone: | (760) 446-3500 |
| Fax: | (760) 446-6904 |
| Website: | https://www.desertvalleys.org |
| Branches: | 1 branch locations |
| Members: | 5,138 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 5366 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1946 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $64,363,298 |
| CEO/Manager: | Eric Bruen |
| Chairperson: | Marshall G Holloway |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 4,344,207 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 11,871,570 |
| Unsecured Loans | 5,200,999 |
| Other Loans | 18,682,465 |
| TOTAL LOANS | 35,755,034 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -447,336 |
| Land And Building | 2,054,731 |
| Other Fixed Assets | 673,980 |
| NCUSIF Deposit | 551,785 |
| All Other Assets | 0 |
| TOTAL ASSETS | 64,363,298 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 1,421,393 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 14,451,337 |
| Regular shares | 29,616,592 |
| All Other Shares & Deposits | 13,389,343 |
| TOTAL SHARES & DEPOSITS | 57,457,272 |
| TOTAL LIABILITIES | 58,878,665 |
| Regular Reserve | 0 |
| Other Reserves | 1,802,022 |
| Undivided Earnings | 3,682,611 |
| TOTAL EQUITY | 5,484,633 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 64,363,298 |
| INCOME & EXPENSE | |
| Loan Income | 2,173,650 |
| Investment Income | 785,472 |
| Other Income | 932,883 |
| Total Employee Compensation & Benefits | 1,695,693 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,902,305 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 89,536 |
| Cost of Funds | 299,002 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 632,995 |
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