Dec, 31, 2023 — RANCHO FEDERAL CREDIT UNION is a federal credit union headquartered in DOWNEY, CA with 3 branch locations and about $109.13 million in total assets. Opened 88 years ago in 1936, RANCHO FEDERAL CREDIT UNION has about 8,035 members and employs 22 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | RANCHO FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 12620 Erickson Ave Ste H DOWNEY, CA 90242-4019 |
| Phone: | (562) 803-6401 |
| Fax: | (562) 803-8798 |
| Website: | https://www.ranchofcu.org |
| Branches: | 3 branch locations |
| Members: | 8,035 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 1204 |
|---|---|
| Membership Type: | Multiple common bond - Primarily federal, state, local government |
| Corporate Credit Union: | No |
| Year Opened: | 1936 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $109,126,038 |
| CEO/Manager: | Wayne Watters |
| Chairperson: | Jason M Lockhart |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 4,527,543 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 32,276,877 |
| Unsecured Loans | 4,882,570 |
| Other Loans | 27,221,490 |
| TOTAL LOANS | 64,380,937 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -172,233 |
| Land And Building | 34,717 |
| Other Fixed Assets | 98,714 |
| NCUSIF Deposit | 1,040,216 |
| All Other Assets | 0 |
| TOTAL ASSETS | 109,126,038 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 16 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 899,395 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 25,382,478 |
| Regular shares | 55,379,521 |
| All Other Shares & Deposits | 19,568,203 |
| TOTAL SHARES & DEPOSITS | 100,330,202 |
| TOTAL LIABILITIES | 101,229,613 |
| Regular Reserve | 0 |
| Other Reserves | 1,638,446 |
| Undivided Earnings | 6,257,979 |
| TOTAL EQUITY | 7,896,425 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 109,126,038 |
| INCOME & EXPENSE | |
| Loan Income | 2,352,880 |
| Investment Income | 765,187 |
| Other Income | 1,176,742 |
| Total Employee Compensation & Benefits | 1,898,107 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 2,372,014 |
| Non-operating Income & (Expense) | 643,095 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 100,003 |
| Cost of Funds | 143,094 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 832,352 |
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