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TORRANCE COMMUNITY FEDERAL CREDIT UNION

Jun, 30, 2021 — TORRANCE COMMUNITY FEDERAL CREDIT UNION is a federal credit union headquartered in TORRANCE, CA with 1 branch location and about $173.47 million in total assets. Opened 63 years ago in 1958, TORRANCE COMMUNITY FEDERAL CREDIT UNION has about 7,638 members and employs 17 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:TORRANCE COMMUNITY FEDERAL CREDIT UNION
Address:
(Main Office)
P.O. BOX 4327
TORRANCE, CA 90510-4327
Phone:(310) 618-9111
Fax:(310) 782-1732
Website:http://www.torranceccu.org
Branches:1 branch locations
Members:7,638
Credit Union Type:Federal Credit Union
Charter Number:12543
Membership Type:Community credit unions, urban or rural, other than those designated 'low income'
Corporate Credit Union:No
Year Opened:1958
Last Audited:Jun 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$173,467,014
CEO/Manager:Steve Stoppel
Chairperson:Mike Lewis

Call Report

  • Payday Alternative Loans (PAL Loans)
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 7,938,756
TOTAL INVESTMENTS 123,422,445
Loans Held for Sale 0
 
 Real Estate Loans 17,895,642
 Unsecured Loans 3,500,389
 Other Loans 12,830,797
 TOTAL LOANS 34,226,828
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -287,812
 Land And Building 4,439,334
 Other Fixed Assets 228,441
 NCUSIF Deposit 1,371,165
 All Other Assets 2,127,857
  TOTAL ASSETS 173,467,014
LIABILITIES & CAPITAL:  
 Dividends Payable 14,749
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 483,395
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 36,120,259
 Regular shares 69,541,688
 All Other Shares & Deposits 54,844,581
  TOTAL SHARES & DEPOSITS 160,506,528
  TOTAL LIABILITIES 161,004,672
 Regular Reserve 946,626
 Other Reserves 556,979
 Undivided Earnings 10,958,737
  TOTAL EQUITY 12,462,342
  TOTAL LIABILITIES, SHARES, & EQUITY 173,467,014
INCOME & EXPENSE  
 Loan Income 656,194
 Investment Income 527,961
 Other Income 87,293
 Total Employee Compensation & Benefits 612,561
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 824,168
 Non-operating Income & (Expense) 4,000
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense -13,358
 Cost of Funds 71,883
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 153,596
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