Dec, 31, 2023 — NORTHROP GRUMMAN FEDERAL CREDIT UNION is a federal credit union headquartered in GARDENA, CA with 27 branch locations and about $1.64 billion in total assets. Opened 78 years ago in 1946, NORTHROP GRUMMAN FEDERAL CREDIT UNION has about 74,181 members and employs 240 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | NORTHROP GRUMMAN FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 879 W 190th St GARDENA, CA 90248-4220 |
| Phone: | (310) 808-4000 |
| Fax: | |
| Website: | https://www.ngfcu.us |
| Branches: | 27 branch locations |
| Members: | 74,181 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 24292 |
|---|---|
| Membership Type: | Multiple common bond - Primarily other manufacturing |
| Corporate Credit Union: | No |
| Year Opened: | 1946 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $1,638,483,582 |
| CEO/Manager: | Mark Rabinowitz |
| Chairperson: | Heather Crofford |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 88,370,984 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 2,366,819 |
| Real Estate Loans | 528,016,710 |
| Unsecured Loans | 115,842,204 |
| Other Loans | 227,111,324 |
| TOTAL LOANS | 870,970,238 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -11,685,020 |
| Land And Building | 1,110,140 |
| Other Fixed Assets | 6,784,136 |
| NCUSIF Deposit | 12,989,307 |
| All Other Assets | 59,839 |
| TOTAL ASSETS | 1,638,483,582 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 7,137 |
| Notes & Interest Payable | 172,200,000 |
| Accounts Payable & Other Liabilities | 24,185,935 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 220,437,094 |
| Regular shares | 349,720,784 |
| All Other Shares & Deposits | 789,167,289 |
| TOTAL SHARES & DEPOSITS | 1,359,325,168 |
| TOTAL LIABILITIES | 1,556,279,185 |
| Regular Reserve | 0 |
| Other Reserves | -59,534,853 |
| Undivided Earnings | 141,739,250 |
| TOTAL EQUITY | 82,204,397 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 1,638,483,582 |
| INCOME & EXPENSE | |
| Loan Income | 46,454,409 |
| Investment Income | 23,451,906 |
| Other Income | 3,830,203 |
| Total Employee Compensation & Benefits | 25,389,070 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 19,601,327 |
| Non-operating Income & (Expense) | 129,767 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 3,250,238 |
| Cost of Funds | 28,602,141 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 2,123,775 |
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