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LOS ANGELES FEDERAL CREDIT UNION

Mar, 31, 2021 — LOS ANGELES FEDERAL CREDIT UNION is a federal credit union headquartered in Glendale, CA with 7 branch locations and about $1.22 billion in total assets. Opened 85 years ago in 1936, LOS ANGELES FEDERAL CREDIT UNION has about 70,642 members and employs 160 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:70,642
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:$1,215,740,654
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 124,022,907
TOTAL INVESTMENTS 367,542,038
Loans Held for Sale 0
 
 Real Estate Loans 327,930,011
 Unsecured Loans 55,341,141
 Other Loans 303,401,081
 TOTAL LOANS 686,672,233
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -6,313,527
 Land And Building 4,073,233
 Other Fixed Assets 1,425,471
 NCUSIF Deposit 9,768,838
 All Other Assets 28,549,461
  TOTAL ASSETS 1,215,740,654
LIABILITIES & CAPITAL:  
 Dividends Payable 173
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 14,828,848
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 256,230,969
 Regular shares 515,579,355
 All Other Shares & Deposits 302,040,986
  TOTAL SHARES & DEPOSITS 1,073,851,310
  TOTAL LIABILITIES 1,088,680,331
 Regular Reserve 30,000,000
 Other Reserves -2,721,817
 Undivided Earnings 99,782,140
  TOTAL EQUITY 127,060,323
  TOTAL LIABILITIES, SHARES, & EQUITY 1,215,740,654
INCOME & EXPENSE  
 Loan Income 7,361,906
 Investment Income 952,025
 Other Income 676,169
 Total Employee Compensation & Benefits 4,143,086
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 4,067,791
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 650,000
 Cost of Funds 692,041
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 665,395
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