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LOS ANGELES FEDERAL CREDIT UNION

Dec, 31, 2020 — LOS ANGELES FEDERAL CREDIT UNION is a federal credit union headquartered in Glendale, CA with 7 branch locations and about $1.17 billion in total assets. Opened 85 years ago in 1936, LOS ANGELES FEDERAL CREDIT UNION has about 70,011 members and employs 161 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:70,011
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, 2019
FHLB Member:No
Low Income Designation:No
Assets:$1,167,000,197
CEO/Manager:Richard T Lie
Chairperson:Denise McGee

Call Report

  • Commercial Loans
  • Direct Financing Leases
  • Indirect Consumer Loans
  • Overdraft Lines of Credit
  • Overdraft Protection
  • Participation Loans
  • Pay Day Loans
  • Real Estate Loans
  • Risk Based Loans
  • Share Secured Credit Cards
  • ATM/Debit Card Program
  • Commercial Share Accounts
  • Check Cashing
  • First Time Homebuyer Program
  • Health Savings Accounts
  • Insurance/Investment Sales
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 117,259,451
TOTAL INVESTMENTS 336,043,032
Loans Held for Sale 0
 
 Real Estate Loans 327,138,043
 Unsecured Loans 58,083,990
 Other Loans 291,350,608
 TOTAL LOANS 676,572,641
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -6,040,451
 Land And Building 4,161,472
 Other Fixed Assets 1,553,416
 NCUSIF Deposit 9,100,448
 All Other Assets 28,350,188
  TOTAL ASSETS 1,167,000,197
LIABILITIES & CAPITAL:  
 Dividends Payable 95
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 14,583,115
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 241,230,010
 Regular shares 482,901,659
 All Other Shares & Deposits 296,345,148
  TOTAL SHARES & DEPOSITS 1,020,476,817
  TOTAL LIABILITIES 1,035,060,027
 Regular Reserve 30,000,000
 Other Reserves 2,823,425
 Undivided Earnings 99,116,745
  TOTAL EQUITY 131,940,170
  TOTAL LIABILITIES, SHARES, & EQUITY 1,167,000,197
INCOME & EXPENSE  
 Loan Income 30,908,525
 Investment Income 4,529,672
 Other Income 8,135,004
 Total Employee Compensation & Benefits 16,585,737
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 15,995,686
 Non-operating Income & (Expense) 2,657,289
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 5,550,000
 Cost of Funds 3,564,664
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 4,534,403
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