Sep, 30, 2022 — NOVO FEDERAL CREDIT UNION is a federal credit union headquartered in NORCO, CA with 1 branch location and about $18.14 million in total assets. Opened 60 years ago in 1963, NOVO FEDERAL CREDIT UNION has about 2,241 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) | 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: | 2,241 |
| 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, 2021 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $18,137,790 |
| CEO/Manager: | Rosie Zarubick |
| Chairperson: | Rodger D Moore |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,194,729 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 1,636,525 |
| Other Loans | 9,610,713 |
| TOTAL LOANS | 11,247,238 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -78,023 |
| Land And Building | 34,605 |
| Other Fixed Assets | 14,042 |
| NCUSIF Deposit | 162,487 |
| All Other Assets | 0 |
| TOTAL ASSETS | 18,137,790 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | -389,750 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 2,725,899 |
| Regular shares | 13,253,173 |
| All Other Shares & Deposits | 793,304 |
| TOTAL SHARES & DEPOSITS | 16,772,376 |
| TOTAL LIABILITIES | 16,382,626 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 1,755,164 |
| TOTAL EQUITY | 1,755,164 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 18,137,790 |
| INCOME & EXPENSE | |
| Loan Income | 446,260 |
| Investment Income | 18,451 |
| Other Income | 139,406 |
| Total Employee Compensation & Benefits | 262,158 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 262,820 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 5,900 |
| Cost of Funds | 8,991 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 81,606 |
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