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TORRANCE COMMUNITY FEDERAL CREDIT UNION

Dec, 31, 2020 — TORRANCE COMMUNITY FEDERAL CREDIT UNION is a federal credit union headquartered in TORRANCE, CA with 1 branch location and about $159.94 million in total assets. Opened 63 years ago in 1958, TORRANCE COMMUNITY FEDERAL CREDIT UNION has about 7,747 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:7,747
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:$159,940,320
CEO/Manager:Steve Stoppel
Chairperson:Mike Lewis

Call Report

  • Commercial Loans
  • Indirect Consumer Loans
  • Overdraft Lines of Credit
  • Overdraft Protection
  • Pay Day Loans
  • Real Estate Loans
  • Risk Based Loans
  • Share Secured Credit Cards
  • Payday Alternative Loans (PAL Loans)
  • ATM/Debit Card Program
  • Commercial Share Accounts
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 14,902,489
TOTAL INVESTMENTS 99,946,303
Loans Held for Sale 0
 
 Real Estate Loans 20,140,863
 Unsecured Loans 3,654,723
 Other Loans 13,810,556
 TOTAL LOANS 37,606,142
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -317,538
 Land And Building 4,457,662
 Other Fixed Assets 246,868
 NCUSIF Deposit 1,264,566
 All Other Assets 1,833,828
  TOTAL ASSETS 159,940,320
LIABILITIES & CAPITAL:  
 Dividends Payable 19,723
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 543,481
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 32,332,003
 Regular shares 64,241,027
 All Other Shares & Deposits 49,457,589
  TOTAL SHARES & DEPOSITS 146,030,619
  TOTAL LIABILITIES 146,593,823
 Regular Reserve 946,626
 Other Reserves 1,594,731
 Undivided Earnings 10,805,140
  TOTAL EQUITY 13,346,497
  TOTAL LIABILITIES, SHARES, & EQUITY 159,940,320
INCOME & EXPENSE  
 Loan Income 1,705,802
 Investment Income 1,237,919
 Other Income 681,510
 Total Employee Compensation & Benefits 1,428,634
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 1,922,647
 Non-operating Income & (Expense) -9,969
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 29,588
 Cost of Funds 272,151
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -37,758
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