Dec, 31, 2023 — SOUTHLAND CREDIT UNION is a federally insured state chartered credit union headquartered in LOS ALAMITOS, CA with 8 branch locations and about $1.15 billion in total assets. Opened 80 years ago in 1944, SOUTHLAND CREDIT UNION has about 64,822 members and employs 174 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | SOUTHLAND CREDIT UNION |
|---|---|
| Address: (Main Office) | 10701 Los Alamitos Blvd LOS ALAMITOS, CA 90720 |
| Phone: | (562) 862-6831 |
| Fax: | (866) 602-5980 |
| Website: | https://www.southlandcu.org |
| Branches: | 8 branch locations |
| Members: | 64,822 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 68415 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1944 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $1,151,297,029 |
| CEO/Manager: | Thomas G Lent |
| Chairperson: | Bradley P Silcox |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 96,435,630 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 472,620,321 |
| Unsecured Loans | 68,364,089 |
| Other Loans | 251,033,091 |
| TOTAL LOANS | 792,017,502 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -6,968,757 |
| Land And Building | 13,787,359 |
| Other Fixed Assets | 4,150,048 |
| NCUSIF Deposit | 8,845,719 |
| All Other Assets | 306,639 |
| TOTAL ASSETS | 1,151,297,029 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 90,900,000 |
| Accounts Payable & Other Liabilities | 11,369,713 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 199,441,558 |
| Regular shares | 437,740,125 |
| All Other Shares & Deposits | 341,430,447 |
| TOTAL SHARES & DEPOSITS | 978,612,128 |
| TOTAL LIABILITIES | 1,080,981,841 |
| Regular Reserve | 0 |
| Other Reserves | -3,528,592 |
| Undivided Earnings | 73,843,780 |
| TOTAL EQUITY | 70,315,188 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 1,151,297,029 |
| INCOME & EXPENSE | |
| Loan Income | 36,615,953 |
| Investment Income | 7,987,627 |
| Other Income | 4,140,445 |
| Total Employee Compensation & Benefits | 17,971,080 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 12,671,676 |
| Non-operating Income & (Expense) | 183,661 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 3,476,416 |
| Cost of Funds | 13,454,117 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 4,016,268 |
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