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SOUTH BAY CREDIT UNION

Dec, 31, 2023 — SOUTH BAY CREDIT UNION is a non-federally insured state credit union headquartered in REDONDO BEACH, CA with 3 branch locations and about $156.70 million in total assets. Opened 71 years ago in 1953, SOUTH BAY CREDIT UNION has about 9,434 members and employs 27 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 322281028
Name:SOUTH BAY CREDIT UNION
Address:
(Main Office)
312 N Pacific Coast Hwy
REDONDO BEACH, CA 90277-2837
Phone:(310) 374-3436
Fax:
Website:https://southbaycu.com
Branches:3 branch locations
Members:9,434
Credit Union Type:Non-Federally Insured State Credit Union
Charter Number:95052
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1953
Last Audited:Jun 01, 2023
FHLB Member:No
Low Income Designation:No
Assets:$156,698,184
CEO/Manager:PARIS CHEVALIER-BOOCHEE
Chairperson:CHRIS OTEY

Call Report

  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 3,111,245
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 71,181,115
 Unsecured Loans 9,747,545
 Other Loans 38,737,677
 TOTAL LOANS 119,666,337
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -674,432
 Land And Building 5,076,770
 Other Fixed Assets 326,791
 NCUSIF Deposit 0
 All Other Assets 0
  TOTAL ASSETS 156,698,184
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 5,897,422
 Accounts Payable & Other Liabilities 2,005,848
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 32,063,300
 Regular shares 48,834,344
 All Other Shares & Deposits 54,222,429
  TOTAL SHARES & DEPOSITS 135,120,073
  TOTAL LIABILITIES 143,023,343
 Regular Reserve 0
 Other Reserves -1,351,372
 Undivided Earnings 15,026,213
  TOTAL EQUITY 13,674,841
  TOTAL LIABILITIES, SHARES, & EQUITY 156,698,184
INCOME & EXPENSE  
 Loan Income 5,690,526
 Investment Income 538,158
 Other Income 1,118,573
 Total Employee Compensation & Benefits 2,853,705
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 3,460,123
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 1,515,585
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 341,305
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