Dec, 31, 2023 — USC CREDIT UNION is a federally insured state chartered credit union headquartered in LOS ANGELES, CA with 4 branch locations and about $764.94 million in total assets. Opened 51 years ago in 1973, USC CREDIT UNION has about 78,921 members and employs 114 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | USC CREDIT UNION |
|---|---|
| Address: (Main Office) | 3720 S Flower St FL 4 LOS ANGELES, CA 90089 |
| Phone: | (213) 821-7100 |
| Fax: | |
| Website: | https://www.usccreditunion.org |
| Branches: | 4 branch locations |
| Members: | 78,921 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 68459 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1973 |
| Last Audited: | Jun 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $764,941,115 |
| CEO/Manager: | Gary J Perez |
| Chairperson: | Gavin G Galimi |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 77,696,221 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 370,664 |
| Real Estate Loans | 276,415,633 |
| Unsecured Loans | 56,456,135 |
| Other Loans | 188,275,241 |
| TOTAL LOANS | 521,147,008 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -4,809,846 |
| Land And Building | 12,607,575 |
| Other Fixed Assets | 1,204,330 |
| NCUSIF Deposit | 6,175,462 |
| All Other Assets | 232,025 |
| TOTAL ASSETS | 764,941,115 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 75,000,000 |
| Accounts Payable & Other Liabilities | 7,018,013 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 14,000,000 |
| Share Drafts | 162,292,320 |
| Regular shares | 201,723,594 |
| All Other Shares & Deposits | 263,300,848 |
| TOTAL SHARES & DEPOSITS | 627,316,762 |
| TOTAL LIABILITIES | 723,334,775 |
| Regular Reserve | 0 |
| Other Reserves | -13,936,124 |
| Undivided Earnings | 55,542,464 |
| TOTAL EQUITY | 41,606,340 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 764,941,115 |
| INCOME & EXPENSE | |
| Loan Income | 24,203,900 |
| Investment Income | 4,467,688 |
| Other Income | 1,751,819 |
| Total Employee Compensation & Benefits | 11,226,673 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 12,446,777 |
| Non-operating Income & (Expense) | 549,239 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 1,989,000 |
| Cost of Funds | 6,816,412 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,688,218 |
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