Dec, 31, 2020 — NOVO FEDERAL CREDIT UNION is a federal credit union headquartered in Norco, CA with 1 branch location and about $13.75 million in total assets. Opened 58 years ago in 1963, NOVO FEDERAL CREDIT UNION has about 2,233 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.
| Name: | NOVO FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | P O Box 129 Norco, CA 92860-0129 |
| Phone: | (951) 737-6262 |
| Fax: | (951) 737-1227 |
| Website: | http://www.novocu.org |
| Branches: | 1 branch locations |
| Members: | 2,233 |
| 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: | Oct 01, 2020 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $13,747,270 |
| CEO/Manager: | Rosie Zarubick |
| Chairperson: | Danny Macias |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 515,305 |
| TOTAL INVESTMENTS | 4,440,126 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 1,736,203 |
| Other Loans | 6,881,578 |
| TOTAL LOANS | 8,617,781 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -90,960 |
| Land And Building | 50,593 |
| Other Fixed Assets | 26,833 |
| NCUSIF Deposit | 95,449 |
| All Other Assets | 92,143 |
| TOTAL ASSETS | 13,747,270 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | -1,106,558 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 2,148,567 |
| Regular shares | 10,145,581 |
| All Other Shares & Deposits | 966,550 |
| TOTAL SHARES & DEPOSITS | 13,260,698 |
| TOTAL LIABILITIES | 12,154,140 |
| Regular Reserve | 207,129 |
| Other Reserves | 0 |
| Undivided Earnings | 1,386,001 |
| TOTAL EQUITY | 1,593,130 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 13,747,270 |
| INCOME & EXPENSE | |
| Loan Income | 573,164 |
| Investment Income | 16,115 |
| Other Income | 148,989 |
| Total Employee Compensation & Benefits | 338,464 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 340,916 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
| Cost of Funds | 12,277 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 46,611 |
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