Dec, 31, 2020 — CORRECTIONS FEDERAL CREDIT UNION is a federal credit union headquartered in SOLEDAD, CA with 1 branch location and about $19.04 million in total assets. Opened 62 years ago in 1959, CORRECTIONS FEDERAL CREDIT UNION has about 2,476 members and employs 8 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 |
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Address: (Main Office) | POST OFFICE BOX 12 SOLEDAD, CA 93960 |
Phone: | (831) 678-2631 |
Fax: | (831) 678-2094 |
Website: | http://www.corfed.com |
Branches: | 1 branch locations |
Members: | 2,476 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 13254 |
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Membership Type: | Federal, State, Local Government |
Corporate Credit Union: | No |
Year Opened: | 1959 |
Last Audited: | Sep 01, 2020 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $19,041,314 |
CEO/Manager: | Pete S Meza |
Chairperson: | Arnold Ortega |
ASSETS: | $ Amount |
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Cash & Equivalents | 1,920,060 |
TOTAL INVESTMENTS | 310,467 |
Loans Held for Sale | 0 |
Real Estate Loans | 0 |
Unsecured Loans | 2,233,018 |
Other Loans | 14,220,706 |
TOTAL LOANS | 16,453,724 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -39,224 |
Land And Building | 0 |
Other Fixed Assets | 50,499 |
NCUSIF Deposit | 148,876 |
All Other Assets | 196,912 |
TOTAL ASSETS | 19,041,314 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 29,838 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 159,350 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 150,000 |
Share Drafts | 1,377,305 |
Regular shares | 10,183,545 |
All Other Shares & Deposits | 5,431,896 |
TOTAL SHARES & DEPOSITS | 16,992,746 |
TOTAL LIABILITIES | 17,331,934 |
Regular Reserve | 266,400 |
Other Reserves | 0 |
Undivided Earnings | 1,442,980 |
TOTAL EQUITY | 1,709,380 |
TOTAL LIABILITIES, SHARES, & EQUITY | 19,041,314 |
INCOME & EXPENSE | |
Loan Income | 1,091,277 |
Investment Income | 10,358 |
Other Income | 332,415 |
Total Employee Compensation & Benefits | 638,145 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 541,437 |
Non-operating Income & (Expense) | -17,858 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 12,405 |
Cost of Funds | 84,195 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 140,010 |
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