Dec, 31, 2023 — FINANCIAL PARTNERS CREDIT UNION is a federally insured state chartered credit union headquartered in DOWNEY, CA with 14 branch locations and about $2.27 billion in total assets. Opened 87 years ago in 1937, FINANCIAL PARTNERS CREDIT UNION has about 90,248 members and employs 295 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | FINANCIAL PARTNERS CREDIT UNION |
|---|---|
| Address: (Main Office) | 7800 Imperial Hwy DOWNEY, CA 90242-3457 |
| Phone: | (562) 923-0311 |
| Fax: | (562) 904-4285 |
| Website: | https://www.fpcu.org |
| Branches: | 14 branch locations |
| Members: | 90,248 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 68457 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1937 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $2,274,502,940 |
| CEO/Manager: | Nader Moghaddam |
| Chairperson: | Barbara Smith |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 113,220,173 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 1,411,330,952 |
| Unsecured Loans | 151,330,229 |
| Other Loans | 283,255,989 |
| TOTAL LOANS | 1,845,917,170 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -11,616,017 |
| Land And Building | 22,764,210 |
| Other Fixed Assets | 5,474,566 |
| NCUSIF Deposit | 16,518,801 |
| All Other Assets | 173,211 |
| TOTAL ASSETS | 2,274,502,940 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 716,716 |
| Notes & Interest Payable | 226,079,183 |
| Accounts Payable & Other Liabilities | 32,045,772 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 35,000,000 |
| Share Drafts | 305,521,657 |
| Regular shares | 471,239,881 |
| All Other Shares & Deposits | 1,063,811,534 |
| TOTAL SHARES & DEPOSITS | 1,840,573,072 |
| TOTAL LIABILITIES | 2,134,414,743 |
| Regular Reserve | 0 |
| Other Reserves | 9,184,146 |
| Undivided Earnings | 130,904,051 |
| TOTAL EQUITY | 140,088,197 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 2,274,502,940 |
| INCOME & EXPENSE | |
| Loan Income | 82,860,801 |
| Investment Income | 9,059,891 |
| Other Income | 5,873,445 |
| Total Employee Compensation & Benefits | 33,620,925 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 31,571,541 |
| Non-operating Income & (Expense) | 678,392 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 3,683,577 |
| Cost of Funds | 39,332,099 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 4,762,682 |
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