Dec, 31, 2023 — LOS ANGELES FEDERAL CREDIT UNION is a federal credit union headquartered in GLENDALE, CA with 7 branch locations and about $1.31 billion in total assets. Opened 88 years ago in 1936, LOS ANGELES FEDERAL CREDIT UNION has about 75,377 members and employs 177 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 |
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Address: (Main Office) | 300 S Glendale Ave GLENDALE, CA 91205-5305 |
Phone: | (818) 242-8640 |
Fax: | (818) 242-5724 |
Website: | https://www.lafcu.org |
Branches: | 7 branch locations |
Members: | 75,377 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 1207 |
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Membership Type: | Multiple common bond - Primarily federal, state, local government |
Corporate Credit Union: | No |
Year Opened: | 1936 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $1,310,990,967 |
CEO/Manager: | Richard T Lie |
Chairperson: | Terrance Manocchio |
ASSETS: | $ Amount |
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Cash & Equivalents | 18,193,701 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 405,933,462 |
Unsecured Loans | 63,193,140 |
Other Loans | 427,913,314 |
TOTAL LOANS | 897,039,916 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -5,475,378 |
Land And Building | 3,256,993 |
Other Fixed Assets | 2,867,403 |
NCUSIF Deposit | 10,630,528 |
All Other Assets | 0 |
TOTAL ASSETS | 1,310,990,967 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 1,369,920 |
Notes & Interest Payable | 103,500,000 |
Accounts Payable & Other Liabilities | 17,433,918 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 256,241,032 |
Regular shares | 508,732,348 |
All Other Shares & Deposits | 326,494,313 |
TOTAL SHARES & DEPOSITS | 1,091,467,693 |
TOTAL LIABILITIES | 1,213,771,531 |
Regular Reserve | 0 |
Other Reserves | -48,174,104 |
Undivided Earnings | 145,393,540 |
TOTAL EQUITY | 97,219,436 |
TOTAL LIABILITIES, SHARES, & EQUITY | 1,310,990,967 |
INCOME & EXPENSE | |
Loan Income | 37,953,128 |
Investment Income | 6,672,586 |
Other Income | 4,405,107 |
Total Employee Compensation & Benefits | 20,107,121 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 18,699,596 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 3,800,000 |
Cost of Funds | 8,516,497 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 3,512,142 |
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