Dec, 31, 2023 — LBS FINANCIAL CREDIT UNION is a federally insured state chartered credit union headquartered in WESTMINSTER, CA with 8 branch locations and about $1.97 billion in total assets. Opened 89 years ago in 1935, LBS FINANCIAL CREDIT UNION has about 141,406 members and employs 236 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | LBS FINANCIAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 5505 Garden Grove Blvd WESTMINSTER, CA 92683 |
| Phone: | (714) 893-5111 |
| Fax: | (714) 934-3486 |
| Website: | https://www.lbsfcu.org |
| Branches: | 8 branch locations |
| Members: | 141,406 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 68460 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1935 |
| Last Audited: | Jun 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $1,969,993,548 |
| CEO/Manager: | Sean Hardeman |
| Chairperson: | Jill A Baker |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 249,112,029 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 264,159,159 |
| Unsecured Loans | 24,152,492 |
| Other Loans | 835,877,775 |
| TOTAL LOANS | 1,124,189,425 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -10,088,297 |
| Land And Building | 2,089,161 |
| Other Fixed Assets | 2,007,122 |
| NCUSIF Deposit | 15,322,487 |
| All Other Assets | 677,456 |
| TOTAL ASSETS | 1,969,993,548 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 10,404,358 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 275,320,491 |
| Regular shares | 483,403,794 |
| All Other Shares & Deposits | 938,913,276 |
| TOTAL SHARES & DEPOSITS | 1,697,637,560 |
| TOTAL LIABILITIES | 1,708,052,192 |
| Regular Reserve | 0 |
| Other Reserves | 404,481 |
| Undivided Earnings | 261,536,875 |
| TOTAL EQUITY | 261,941,356 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 1,969,993,548 |
| INCOME & EXPENSE | |
| Loan Income | 52,774,469 |
| Investment Income | 15,469,490 |
| Other Income | 3,519,354 |
| Total Employee Compensation & Benefits | 22,929,401 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 16,317,298 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 5,954,146 |
| Cost of Funds | 19,628,331 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 14,406,744 |
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