Dec, 31, 2023 — F & A FEDERAL CREDIT UNION is a federal credit union headquartered in MONTEREY PARK, CA with 2 branch locations and about $2.25 billion in total assets. Opened 88 years ago in 1936, F & A FEDERAL CREDIT UNION has about 47,320 members and employs 115 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | F & A FEDERAL CREDIT UNION |
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Address: (Main Office) | 2625 CORPORATE Pl MONTEREY PARK, CA 91754 |
Phone: | (323) 268-1226 |
Fax: | (323) 261-3350 |
Website: | https://www.fafcu.org |
Branches: | 2 branch locations |
Members: | 47,320 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 1493 |
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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: | $2,249,946,818 |
CEO/Manager: | Tim Green |
Chairperson: | RICHARD RUSSELL |
ASSETS: | $ Amount |
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Cash & Equivalents | 132,373,671 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 681,641,358 |
Unsecured Loans | 49,952,037 |
Other Loans | 111,707,116 |
TOTAL LOANS | 843,300,511 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -2,285,451 |
Land And Building | 7,534,910 |
Other Fixed Assets | 879,856 |
NCUSIF Deposit | 16,301,958 |
All Other Assets | 0 |
TOTAL ASSETS | 2,249,946,818 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 245,000,000 |
Accounts Payable & Other Liabilities | 12,512,657 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 276,130,129 |
Regular shares | 300,714,043 |
All Other Shares & Deposits | 1,186,639,548 |
TOTAL SHARES & DEPOSITS | 1,763,483,720 |
TOTAL LIABILITIES | 2,021,065,409 |
Regular Reserve | 0 |
Other Reserves | -99,456,713 |
Undivided Earnings | 328,338,122 |
TOTAL EQUITY | 228,881,409 |
TOTAL LIABILITIES, SHARES, & EQUITY | 2,249,946,818 |
INCOME & EXPENSE | |
Loan Income | 30,212,752 |
Investment Income | 36,929,795 |
Other Income | 781,166 |
Total Employee Compensation & Benefits | 12,125,856 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 10,828,987 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 865,113 |
Cost of Funds | 38,416,867 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 11,202,545 |
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