Dec, 31, 2023 — I.L.W.U. FEDERAL CREDIT UNION is a federal credit union headquartered in LONG BEACH, CA with 6 branch locations and about $478.49 million in total assets. Opened 52 years ago in 1972, I.L.W.U. FEDERAL CREDIT UNION has about 26,425 members and employs 66 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | I.L.W.U. FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 3447 Atlantic Ave LONG BEACH, CA 90807 |
| Phone: | (310) 834-6411 |
| Fax: | (310) 834-2151 |
| Website: | https://www.ilwucu.org |
| Branches: | 6 branch locations |
| Members: | 26,425 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 24916 |
|---|---|
| Membership Type: | Multiple common bond - other |
| Corporate Credit Union: | No |
| Year Opened: | 1972 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $478,491,034 |
| CEO/Manager: | Ralph E Ruiz |
| Chairperson: | Peter Ciaramitaro |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 10,463,184 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 168,476,528 |
| Unsecured Loans | 42,101,022 |
| Other Loans | 141,463,724 |
| TOTAL LOANS | 352,041,274 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -2,202,425 |
| Land And Building | 11,008,671 |
| Other Fixed Assets | 2,782,477 |
| NCUSIF Deposit | 3,589,452 |
| All Other Assets | 0 |
| TOTAL ASSETS | 478,491,034 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 24,500,000 |
| Accounts Payable & Other Liabilities | 7,173,915 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 54,035,784 |
| Regular shares | 172,291,518 |
| All Other Shares & Deposits | 187,394,974 |
| TOTAL SHARES & DEPOSITS | 413,722,277 |
| TOTAL LIABILITIES | 445,396,192 |
| Regular Reserve | 0 |
| Other Reserves | -5,709,243 |
| Undivided Earnings | 38,804,085 |
| TOTAL EQUITY | 33,094,842 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 478,491,034 |
| INCOME & EXPENSE | |
| Loan Income | 17,049,317 |
| Investment Income | 2,409,387 |
| Other Income | 2,564,592 |
| Total Employee Compensation & Benefits | 7,623,091 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 8,253,760 |
| Non-operating Income & (Expense) | 812,776 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 1,089,193 |
| Cost of Funds | 5,861,274 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 2,584,917 |
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