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National Credit Union Service Organization

NOVO FEDERAL CREDIT UNION

Dec, 31, 2023 — NOVO FEDERAL CREDIT UNION is a federal credit union headquartered in NORCO, CA with 1 branch location and about $17.86 million in total assets. Opened 61 years ago in 1963, NOVO FEDERAL CREDIT UNION has about 2,230 members and employs 5 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 322274734
Name:NOVO FEDERAL CREDIT UNION
Address:
(Main Office)
2191 5th St Ste 202
NORCO, CA 92860-1967
Phone:(951) 737-6262
Fax:(951) 737-1227
Website:https://www.novocu.org
Branches:1 branch locations
Members:2,230
Credit Union Type:Federal Credit Union
Charter Number:15784
Membership Type:Multiple common bond - Primarily federal, state, local government
Corporate Credit Union:No
Year Opened:1963
Last Audited:Sep 01, 2023
FHLB Member:No
Low Income Designation:No
Assets:$17,860,627
CEO/Manager:Rosie Zarubick
Chairperson:Rodger D Moore

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 108,282
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 1,839,804
 Other Loans 11,556,294
 TOTAL LOANS 13,396,099
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -92,130
 Land And Building 23,421
 Other Fixed Assets 7,923
 NCUSIF Deposit 161,425
 All Other Assets 0
  TOTAL ASSETS 17,860,627
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities -1,302,232
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 3,177,851
 Regular shares 13,056,374
 All Other Shares & Deposits 804,989
  TOTAL SHARES & DEPOSITS 17,039,214
  TOTAL LIABILITIES 15,736,982
 Regular Reserve 0
 Other Reserves 0
 Undivided Earnings 2,123,645
  TOTAL EQUITY 2,123,645
  TOTAL LIABILITIES, SHARES, & EQUITY 17,860,627
INCOME & EXPENSE  
 Loan Income 772,653
 Investment Income 213,371
 Other Income 189,899
 Total Employee Compensation & Benefits 395,694
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 434,734
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 14,657
 Cost of Funds 11,117
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 346,019
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