Sep, 30, 2025 — CORRECTIONS FEDERAL CREDIT UNION is a federal credit union headquartered in SOLEDAD, CA with 2 branch locations and about $34.91 million in total assets. Opened 67 years ago in 1959, CORRECTIONS FEDERAL CREDIT UNION has about 3,581 members and employs 10 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | CORRECTIONS FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 4 miles North of Soledad, Hwy 101 SOLEDAD, CA 93960 |
| Phone: | (831) 678-2631 |
| Fax: | (831) 678-2094 |
| Website: | https://www.corfed.com |
| Branches: | 2 branch locations |
| Members: | 3,581 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 13254 |
|---|---|
| Membership Type: | Multiple common bond - Primarily federal, state, local government |
| Corporate Credit Union: | No |
| Year Opened: | 1959 |
| Last Audited: | Sep 01, 2024 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $34,908,918 |
| CEO/Manager: | Pete S Meza |
| Chairperson: | Arnold Ortega |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 5,030,544 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 1,980,044 |
| Other Loans | 22,963,489 |
| TOTAL LOANS | 24,943,533 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -194,996 |
| Land And Building | 0 |
| Other Fixed Assets | 277,299 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 283,516 |
| All Other Assets | 2,400 |
| TOTAL ASSETS | 34,908,918 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 119,821 |
| Notes & Interest Payable | 30,000 |
| Accounts Payable & Other Liabilities | 92,245 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 120,000 |
| Share Drafts | 3,730,315 |
| Regular shares | 18,349,775 |
| All Other Shares & Deposits | 9,475,363 |
| TOTAL SHARES & DEPOSITS | 31,555,453 |
| TOTAL LIABILITIES | 31,917,519 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 2,991,399 |
| TOTAL EQUITY | 2,991,399 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 34,908,918 |
| INCOME & EXPENSE | |
| Loan Income | 1,430,009 |
| Investment Income | 167,074 |
| Other Income | 151,545 |
| Total Employee Compensation & Benefits | 741,091 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 808,775 |
| Non-operating Income & (Expense) | 3,719 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 76,518 |
| Cost of Funds | 191,907 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 40,300 |
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