Jun, 30, 2024 — BAY FEDERAL CREDIT UNION is a federal credit union headquartered in CAPITOLA, CA with 7 branch locations and about $1.64 billion in total assets. Opened 67 years ago in 1957, BAY FEDERAL CREDIT UNION has about 85,226 members and employs 241 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | BAY FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 3333 Clares St CAPITOLA, CA 95010-2546 |
| Phone: | (831) 479-6000 |
| Fax: | (831) 479-6095 |
| Website: | https://www.bayfed.com |
| Branches: | 7 branch locations |
| Members: | 85,226 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 12067 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1957 |
| Last Audited: | Dec 01, 2021 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $1,636,244,503 |
| CEO/Manager: | Carrie L Birkhofer |
| Chairperson: | Taylor Bateman |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 128,828,634 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 795,000 |
| Real Estate Loans | 461,944,421 |
| Unsecured Loans | 33,027,909 |
| Other Loans | 511,645,748 |
| TOTAL LOANS | 1,006,618,078 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -3,897,205 |
| Land And Building | 11,561,998 |
| Other Fixed Assets | 5,119,759 |
| NCUSIF Deposit | 13,616,575 |
| All Other Assets | 234,659 |
| TOTAL ASSETS | 1,636,244,503 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 55,021 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 25,076,960 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 428,124,369 |
| Regular shares | 882,425,704 |
| All Other Shares & Deposits | 206,033,842 |
| TOTAL SHARES & DEPOSITS | 1,516,583,915 |
| TOTAL LIABILITIES | 1,541,715,896 |
| Regular Reserve | 0 |
| Other Reserves | -22,006,697 |
| Undivided Earnings | 116,535,304 |
| TOTAL EQUITY | 94,528,607 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 1,636,244,503 |
| INCOME & EXPENSE | |
| Loan Income | 25,402,468 |
| Investment Income | 3,949,849 |
| Other Income | 3,520,058 |
| Total Employee Compensation & Benefits | 19,298,588 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 11,381,934 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 225,063 |
| Cost of Funds | 1,136,338 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 9,366,101 |
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