Dec, 31, 2023 — CERTIFIED FEDERAL CREDIT UNION is a federal credit union headquartered in EL MONTE, CA with 9 branch locations and about $781.72 million in total assets. Opened 70 years ago in 1954, CERTIFIED FEDERAL CREDIT UNION has about 57,041 members and employs 111 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | CERTIFIED FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 4455 Arden Dr EL MONTE, CA 91731 |
| Phone: | (626) 444-1972 |
| Fax: | (626) 350-5850 |
| Website: | https://www.certifiedfed.com |
| Branches: | 9 branch locations |
| Members: | 57,041 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 9230 |
|---|---|
| Membership Type: | Multiple common bond - Primarily finance, insurance, real estate, trade |
| Corporate Credit Union: | No |
| Year Opened: | 1954 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $781,724,430 |
| CEO/Manager: | Stephen Weakley |
| Chairperson: | Gary Hammett |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 53,048,827 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 279,729,918 |
| Unsecured Loans | 92,351,106 |
| Other Loans | 152,685,454 |
| TOTAL LOANS | 524,766,478 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -6,700,273 |
| Land And Building | 565,257 |
| Other Fixed Assets | 906,132 |
| NCUSIF Deposit | 5,767,161 |
| All Other Assets | 196,902 |
| TOTAL ASSETS | 781,724,430 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 710,608 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 17,294,490 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 135,178,678 |
| Regular shares | 232,304,842 |
| All Other Shares & Deposits | 243,774,278 |
| TOTAL SHARES & DEPOSITS | 611,257,798 |
| TOTAL LIABILITIES | 629,262,896 |
| Regular Reserve | 0 |
| Other Reserves | 1,597,377 |
| Undivided Earnings | 150,864,157 |
| TOTAL EQUITY | 152,461,534 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 781,724,430 |
| INCOME & EXPENSE | |
| Loan Income | 29,636,595 |
| Investment Income | 6,139,373 |
| Other Income | 7,589,946 |
| Total Employee Compensation & Benefits | 12,985,891 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 13,360,229 |
| Non-operating Income & (Expense) | -12,332 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 4,941,000 |
| Cost of Funds | 6,786,600 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 9,251,529 |
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