Dec, 31, 2023 — LOS ANGELES FEDERAL CREDIT UNION is a federal credit union headquartered in GLENDALE, CA with 7 branch locations and about $1.31 billion in total assets. Opened 88 years ago in 1936, LOS ANGELES FEDERAL CREDIT UNION has about 75,377 members and employs 177 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | LOS ANGELES FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 300 S Glendale Ave GLENDALE, CA 91205-5305 |
| Phone: | (818) 242-8640 |
| Fax: | (818) 242-5724 |
| Website: | https://www.lafcu.org |
| Branches: | 7 branch locations |
| Members: | 75,377 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 1207 |
|---|---|
| Membership Type: | Multiple common bond - Primarily federal, state, local government |
| Corporate Credit Union: | No |
| Year Opened: | 1936 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $1,310,990,967 |
| CEO/Manager: | Richard T Lie |
| Chairperson: | Terrance Manocchio |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 18,193,701 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 405,933,462 |
| Unsecured Loans | 63,193,140 |
| Other Loans | 427,913,314 |
| TOTAL LOANS | 897,039,916 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -5,475,378 |
| Land And Building | 3,256,993 |
| Other Fixed Assets | 2,867,403 |
| NCUSIF Deposit | 10,630,528 |
| All Other Assets | 0 |
| TOTAL ASSETS | 1,310,990,967 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 1,369,920 |
| Notes & Interest Payable | 103,500,000 |
| Accounts Payable & Other Liabilities | 17,433,918 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 256,241,032 |
| Regular shares | 508,732,348 |
| All Other Shares & Deposits | 326,494,313 |
| TOTAL SHARES & DEPOSITS | 1,091,467,693 |
| TOTAL LIABILITIES | 1,213,771,531 |
| Regular Reserve | 0 |
| Other Reserves | -48,174,104 |
| Undivided Earnings | 145,393,540 |
| TOTAL EQUITY | 97,219,436 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 1,310,990,967 |
| INCOME & EXPENSE | |
| Loan Income | 37,953,128 |
| Investment Income | 6,672,586 |
| Other Income | 4,405,107 |
| Total Employee Compensation & Benefits | 20,107,121 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 18,699,596 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 3,800,000 |
| Cost of Funds | 8,516,497 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 3,512,142 |
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