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.
| 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 |
| 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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