Dec, 31, 2023 — FARMERS INSURANCE GROUP FEDERAL CREDIT UNION is a federal credit union headquartered in BURBANK, CA with 10 branch locations and about $1.54 billion in total assets. Opened 88 years ago in 1936, FARMERS INSURANCE GROUP FEDERAL CREDIT UNION has about 63,110 members and employs 254 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | FARMERS INSURANCE GROUP FEDERAL CREDIT UNION |
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Address: (Main Office) | 2255 N Ontario St BURBANK, CA 91504 |
Phone: | (800) 877-2345 |
Fax: | (323) 549-0272 |
Website: | https://www.figfcu.com |
Branches: | 10 branch locations |
Members: | 63,110 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 1074 |
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Membership Type: | Multiple common bond - Primarily finance, insurance, real estate, trade |
Corporate Credit Union: | No |
Year Opened: | 1936 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $1,537,391,071 |
CEO/Manager: | Laura Campbell |
Chairperson: | Linda Sanazaro |
ASSETS: | $ Amount |
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Cash & Equivalents | 78,361,407 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 722,755,276 |
Unsecured Loans | 153,717,075 |
Other Loans | 540,074,762 |
TOTAL LOANS | 1,416,865,981 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -19,742,581 |
Land And Building | 0 |
Other Fixed Assets | 14,601,771 |
NCUSIF Deposit | 11,590,131 |
All Other Assets | 660,892 |
TOTAL ASSETS | 1,537,391,071 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 115,850,000 |
Accounts Payable & Other Liabilities | 21,933,514 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 204,406,935 |
Regular shares | 365,326,626 |
All Other Shares & Deposits | 693,092,371 |
TOTAL SHARES & DEPOSITS | 1,262,825,933 |
TOTAL LIABILITIES | 1,401,267,251 |
Regular Reserve | 0 |
Other Reserves | -3,264 |
Undivided Earnings | 136,127,084 |
TOTAL EQUITY | 136,123,820 |
TOTAL LIABILITIES, SHARES, & EQUITY | 1,537,391,071 |
INCOME & EXPENSE | |
Loan Income | 88,354,637 |
Investment Income | 4,801,996 |
Other Income | 4,076,059 |
Total Employee Compensation & Benefits | 31,865,888 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 23,431,684 |
Non-operating Income & (Expense) | -67,894 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 11,918,050 |
Cost of Funds | 27,763,320 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 7,319,528 |
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