Mar, 31, 2021 — CORRECTIONS FEDERAL CREDIT UNION is a federal credit union headquartered in SOLEDAD, CA with 1 branch location and about $20.11 million in total assets. Opened 62 years ago in 1959, CORRECTIONS FEDERAL CREDIT UNION has about 2,488 members and employs 9 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) | 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: | 2,488 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 13254 |
|---|---|
| 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: | $20,105,119 |
| CEO/Manager: | Pete S Meza |
| Chairperson: | Arnold Ortega |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 2,588,718 |
| TOTAL INVESTMENTS | 310,467 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 1,936,750 |
| Other Loans | 14,881,802 |
| TOTAL LOANS | 16,818,552 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -32,900 |
| Land And Building | 0 |
| Other Fixed Assets | 47,485 |
| NCUSIF Deposit | 148,876 |
| All Other Assets | 223,921 |
| TOTAL ASSETS | 20,105,119 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 25,055 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 196,078 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 150,000 |
| Share Drafts | 1,560,221 |
| Regular shares | 10,990,492 |
| All Other Shares & Deposits | 5,429,987 |
| TOTAL SHARES & DEPOSITS | 17,980,700 |
| TOTAL LIABILITIES | 18,351,833 |
| Regular Reserve | 266,400 |
| Other Reserves | 0 |
| Undivided Earnings | 1,486,886 |
| TOTAL EQUITY | 1,753,286 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 20,105,119 |
| INCOME & EXPENSE | |
| Loan Income | 287,831 |
| Investment Income | 1,871 |
| Other Income | 34,068 |
| Total Employee Compensation & Benefits | 163,011 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 153,220 |
| Non-operating Income & (Expense) | -332 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | -7,074 |
| Cost of Funds | 13,635 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 43,907 |
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