Dec, 31, 2023 — SOUTH SIDE COMMUNITY FEDERAL CREDIT UNION is a federal credit union headquartered in CHICAGO, IL with 1 branch location and about $6.05 million in total assets. Opened 21 years ago in 2003, SOUTH SIDE COMMUNITY FEDERAL CREDIT UNION has about 1,800 members and employs 6 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | SOUTH SIDE COMMUNITY FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 5401 S Wentworth Ave CHICAGO, IL 60609-6349 |
| Phone: | (773) 548-5500 |
| Fax: | (773) 548-5533 |
| Website: | https://www.southsidecommunityfcu.org/ |
| Branches: | 1 branch locations |
| Members: | 1,800 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 24704 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 2003 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $6,052,551 |
| CEO/Manager: | Gregg H Brown |
| Chairperson: | Byron Jones |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 849,766 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 106,775 |
| Unsecured Loans | 139,583 |
| Other Loans | 981,488 |
| TOTAL LOANS | 1,227,846 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -54,159 |
| Land And Building | 0 |
| Other Fixed Assets | 130,694 |
| NCUSIF Deposit | 52,980 |
| All Other Assets | 0 |
| TOTAL ASSETS | 6,052,551 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 75,038 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 328,000 |
| Share Drafts | 729,653 |
| Regular shares | 3,587,080 |
| All Other Shares & Deposits | 227,588 |
| TOTAL SHARES & DEPOSITS | 4,544,321 |
| TOTAL LIABILITIES | 4,947,359 |
| Regular Reserve | 0 |
| Other Reserves | 68,260 |
| Undivided Earnings | 1,036,932 |
| TOTAL EQUITY | 1,105,192 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 6,052,551 |
| INCOME & EXPENSE | |
| Loan Income | 80,294 |
| Investment Income | 150,352 |
| Other Income | 50,071 |
| Total Employee Compensation & Benefits | 310,022 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 176,206 |
| Non-operating Income & (Expense) | 290,488 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 74,690 |
| Cost of Funds | 17,564 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -5,598 |
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