Dec, 31, 2023 — SCHOOLSFIRST FEDERAL CREDIT UNION is a federal credit union headquartered in TUSTIN, CA with 70 branch locations and about $29.22 billion in total assets. Opened 90 years ago in 1934, SCHOOLSFIRST FEDERAL CREDIT UNION has more than 1.4 million members and employs 2,871 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | SCHOOLSFIRST FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 15332 Newport Ave TUSTIN, CA 92780 |
| Phone: | (714) 258-4000 |
| Fax: | |
| Website: | https://www.schoolsfirstfcu.org |
| Branches: | 70 branch locations |
| Members: | 1,367,887 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 24212 |
|---|---|
| Membership Type: | Educational |
| Corporate Credit Union: | No |
| Year Opened: | 1934 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $29,222,243,466 |
| CEO/Manager: | Bill Cheney |
| Chairperson: | Renee Hendrick |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,021,164,477 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 33,950,412 |
| Real Estate Loans | 9,746,688,641 |
| Unsecured Loans | 3,102,292,872 |
| Other Loans | 6,213,638,672 |
| TOTAL LOANS | 19,062,620,185 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -151,973,197 |
| Land And Building | 216,007,455 |
| Other Fixed Assets | 70,662,806 |
| NCUSIF Deposit | 228,789,695 |
| All Other Assets | 3,474,600 |
| TOTAL ASSETS | 29,222,243,466 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 1,822,500,000 |
| Accounts Payable & Other Liabilities | 421,210,405 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 4,333,078,094 |
| Regular shares | 7,017,778,069 |
| All Other Shares & Deposits | 12,686,718,789 |
| TOTAL SHARES & DEPOSITS | 24,037,574,952 |
| TOTAL LIABILITIES | 26,281,382,319 |
| Regular Reserve | 0 |
| Other Reserves | 336,317,926 |
| Undivided Earnings | 2,604,543,221 |
| TOTAL EQUITY | 2,940,861,147 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 29,222,243,466 |
| INCOME & EXPENSE | |
| Loan Income | 906,894,084 |
| Investment Income | 142,053,772 |
| Other Income | 55,809,467 |
| Total Employee Compensation & Benefits | 337,871,701 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 256,044,917 |
| Non-operating Income & (Expense) | -744,482 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 150,608,725 |
| Cost of Funds | 331,606,463 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 166,818,332 |
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