Dec, 31, 2023 — GLENDALE AREA SCHOOLS CREDIT UNION is a non-federally insured state credit union headquartered in GLENDALE, CA with 2 branch locations and about $438.32 million in total assets. Opened 87 years ago in 1937, GLENDALE AREA SCHOOLS CREDIT UNION has about 11,990 members and employs 30 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | GLENDALE AREA SCHOOLS CREDIT UNION |
|---|---|
| Address: (Main Office) | 1800 BROADVIEW DR GLENDALE, CA 91208 |
| Phone: | (818) 248-7425 |
| Fax: | (818) 248-3486 |
| Website: | https://gascu.org |
| Branches: | 2 branch locations |
| Members: | 11,990 |
| Credit Union Type: | Non-Federally Insured State Credit Union |
| Charter Number: | 97101 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1937 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $438,318,060 |
| CEO/Manager: | Wesley Walton |
| Chairperson: | Robert Ross |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 20,607,151 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 65,977,084 |
| Unsecured Loans | 13,277,660 |
| Other Loans | 67,287,423 |
| TOTAL LOANS | 146,542,167 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,244,197 |
| Land And Building | 1,000,000 |
| Other Fixed Assets | 543,591 |
| NCUSIF Deposit | 0 |
| All Other Assets | 0 |
| TOTAL ASSETS | 438,318,060 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 20,000,000 |
| Accounts Payable & Other Liabilities | 1,988,662 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 69,527,509 |
| Regular shares | 99,762,218 |
| All Other Shares & Deposits | 203,473,015 |
| TOTAL SHARES & DEPOSITS | 372,762,742 |
| TOTAL LIABILITIES | 394,751,404 |
| Regular Reserve | 0 |
| Other Reserves | -12,041,980 |
| Undivided Earnings | 55,608,636 |
| TOTAL EQUITY | 43,566,656 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 438,318,060 |
| INCOME & EXPENSE | |
| Loan Income | 4,976,869 |
| Investment Income | 7,361,415 |
| Other Income | 224,510 |
| Total Employee Compensation & Benefits | 2,511,930 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 2,415,680 |
| Non-operating Income & (Expense) | 63,976 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 300,000 |
| Cost of Funds | 5,640,085 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 2,855,129 |
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