Jun, 30, 2024 — LOS ANGELES FEDERAL CREDIT UNION is a federal credit union headquartered in GLENDALE, CA with 7 branch locations and about $1.24 billion in total assets. Opened 89 years ago in 1936, LOS ANGELES FEDERAL CREDIT UNION has about 75,005 members and employs 164 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 Ave GLENDALE, CA 91205-5305 |
| Phone: | (818) 242-8640 |
| Fax: | (818) 242-5724 |
| Website: | https://www.lafcu.org |
| Branches: | 7 branch locations |
| Members: | 75,005 |
| 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, 2021 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $1,242,028,384 |
| CEO/Manager: | Richard T Lie |
| Chairperson: | Denise McGee |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 25,446,701 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 350,496,150 |
| Unsecured Loans | 50,360,845 |
| Other Loans | 400,996,771 |
| TOTAL LOANS | 801,853,766 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -6,099,780 |
| Land And Building | 3,658,019 |
| Other Fixed Assets | 1,730,879 |
| NCUSIF Deposit | 10,871,283 |
| All Other Assets | 0 |
| TOTAL ASSETS | 1,242,028,384 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 133 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 13,565,784 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 272,102,034 |
| Regular shares | 582,402,619 |
| All Other Shares & Deposits | 295,007,063 |
| TOTAL SHARES & DEPOSITS | 1,149,511,716 |
| TOTAL LIABILITIES | 1,163,077,633 |
| Regular Reserve | 0 |
| Other Reserves | -59,549,734 |
| Undivided Earnings | 138,500,485 |
| TOTAL EQUITY | 78,950,751 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 1,242,028,384 |
| INCOME & EXPENSE | |
| Loan Income | 21,791,512 |
| Investment Income | 4,782,583 |
| Other Income | 2,705,471 |
| Total Employee Compensation & Benefits | 12,975,137 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 13,847,658 |
| 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 | 1,514,046 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 4,568,990 |
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