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LOS ANGELES FEDERAL CREDIT UNION

Sep, 30, 2021 — LOS ANGELES FEDERAL CREDIT UNION is a federal credit union headquartered in Glendale, CA with 7 branch locations and about $1.26 billion in total assets. Opened 86 years ago in 1936, LOS ANGELES FEDERAL CREDIT UNION has about 72,258 members and employs 163 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:LOS ANGELES FEDERAL CREDIT UNION
Address:
(Main Office)
300 S Glendale Avenue
Glendale, CA 91205
Phone:(818) 242-8640
Fax:(818) 242-5724
Website:http://www.lafcu.org
Branches:7 branch locations
Members:72,258
Credit Union Type:Federal Credit Union
Charter Number:1207
Membership Type:Multiple common bond - Primarily federal, state, local government
Corporate Credit Union:No
Year Opened:1936
Last Audited:Dec 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$1,260,375,876
CEO/Manager:Richard T Lie
Chairperson:Denise McGee

Call Report

  • First Time Homebuyer Program
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 141,676,758
TOTAL INVESTMENTS 410,239,229
Loans Held for Sale 0
 
 Real Estate Loans 319,167,457
 Unsecured Loans 50,316,549
 Other Loans 299,768,651
 TOTAL LOANS 669,252,657
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -6,456,547
 Land And Building 4,015,377
 Other Fixed Assets 1,290,036
 NCUSIF Deposit 10,486,484
 All Other Assets 29,871,882
  TOTAL ASSETS 1,260,375,876
LIABILITIES & CAPITAL:  
 Dividends Payable 226
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 15,130,610
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 262,421,931
 Regular shares 543,009,129
 All Other Shares & Deposits 310,616,215
  TOTAL SHARES & DEPOSITS 1,116,047,275
  TOTAL LIABILITIES 1,131,178,111
 Regular Reserve 30,000,000
 Other Reserves -2,784,932
 Undivided Earnings 101,982,697
  TOTAL EQUITY 129,197,765
  TOTAL LIABILITIES, SHARES, & EQUITY 1,260,375,876
INCOME & EXPENSE  
 Loan Income 21,610,738
 Investment Income 3,319,076
 Other Income 2,483,049
 Total Employee Compensation & Benefits 12,216,055
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 13,307,683
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 1,150,000
 Cost of Funds 2,011,325
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 2,865,952
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