Dec, 31, 2023 — SEA AIR FEDERAL CREDIT UNION is a federal credit union headquartered in SEAL BEACH, CA with 3 branch locations and about $124.90 million in total assets. Opened 72 years ago in 1952, SEA AIR FEDERAL CREDIT UNION has about 6,262 members and employs 17 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | SEA AIR FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 800 Seal Beach Blvd Bldg 12 SEAL BEACH, CA 90740 |
| Phone: | (888) 732-2471 |
| Fax: | (562) 430-3921 |
| Website: | https://www.seaairfcu.org |
| Branches: | 3 branch locations |
| Members: | 6,262 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 7817 |
|---|---|
| Membership Type: | Multiple common bond - Primarily military |
| Corporate Credit Union: | No |
| Year Opened: | 1952 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $124,902,947 |
| CEO/Manager: | Michael G Pardon |
| Chairperson: | Lawrence Jorgenson |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 6,876,884 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 15,461,628 |
| Unsecured Loans | 2,778,468 |
| Other Loans | 28,054,407 |
| TOTAL LOANS | 46,294,503 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -206,323 |
| Land And Building | 0 |
| Other Fixed Assets | 104,098 |
| NCUSIF Deposit | 965,247 |
| All Other Assets | 101,500 |
| TOTAL ASSETS | 124,902,947 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 4,192 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 898,038 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 8,722,921 |
| Regular shares | 33,873,340 |
| All Other Shares & Deposits | 52,629,677 |
| TOTAL SHARES & DEPOSITS | 95,225,938 |
| TOTAL LIABILITIES | 96,128,168 |
| Regular Reserve | 0 |
| Other Reserves | 9,944,136 |
| Undivided Earnings | 18,830,643 |
| TOTAL EQUITY | 28,774,779 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 124,902,947 |
| INCOME & EXPENSE | |
| Loan Income | 1,921,816 |
| Investment Income | 1,351,319 |
| Other Income | 157,815 |
| Total Employee Compensation & Benefits | 1,732,260 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,718,519 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | -30,264 |
| Cost of Funds | 1,158,763 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -818,109 |
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