Dec, 31, 2023 — BAY FEDERAL CREDIT UNION is a federal credit union headquartered in CAPITOLA, CA with 7 branch locations and about $1.59 billion in total assets. Opened 67 years ago in 1957, BAY FEDERAL CREDIT UNION has about 88,772 members and employs 252 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | BAY FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 3333 Clares St CAPITOLA, CA 95010-2546 |
| Phone: | (831) 479-6000 |
| Fax: | (831) 479-6095 |
| Website: | https://www.bayfed.com |
| Branches: | 7 branch locations |
| Members: | 88,772 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 12067 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1957 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $1,590,572,029 |
| CEO/Manager: | Carrie L Birkhofer |
| Chairperson: | Taylor Bateman |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 118,372,550 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 1,125,000 |
| Real Estate Loans | 520,679,952 |
| Unsecured Loans | 43,960,359 |
| Other Loans | 521,074,420 |
| TOTAL LOANS | 1,085,714,731 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -6,832,000 |
| Land And Building | 4,718,231 |
| Other Fixed Assets | 4,148,260 |
| NCUSIF Deposit | 13,759,533 |
| All Other Assets | 607,312 |
| TOTAL ASSETS | 1,590,572,029 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 9,549 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 25,122,002 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 381,190,580 |
| Regular shares | 728,918,396 |
| All Other Shares & Deposits | 333,314,789 |
| TOTAL SHARES & DEPOSITS | 1,443,423,764 |
| TOTAL LIABILITIES | 1,468,555,315 |
| Regular Reserve | 0 |
| Other Reserves | -24,100,146 |
| Undivided Earnings | 146,116,860 |
| TOTAL EQUITY | 122,016,714 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 1,590,572,029 |
| INCOME & EXPENSE | |
| Loan Income | 46,565,315 |
| Investment Income | 5,010,728 |
| Other Income | 5,211,254 |
| Total Employee Compensation & Benefits | 29,619,960 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 16,883,527 |
| Non-operating Income & (Expense) | 5,207,621 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 2,186,432 |
| Cost of Funds | 9,439,252 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 16,229,999 |
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