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SOUTH SIDE COMMUNITY FEDERAL CREDIT UNION

Mar, 31, 2021 — SOUTH SIDE COMMUNITY FEDERAL CREDIT UNION is a federal credit union headquartered in Chicago, IL with 1 branch location and about $6.45 million in total assets. Opened 18 years ago in 2003, SOUTH SIDE COMMUNITY FEDERAL CREDIT UNION has about 1,750 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:SOUTH SIDE COMMUNITY FEDERAL CREDIT UNION
Address:
(Main Office)
5401 S Wentworth Ave, Suite 25
Chicago, IL 60609
Phone:(773) 548-5500
Fax:(773) 548-5533
Website:http://www.southsidecommunityfcu.org/
Branches:1 branch locations
Members:1,750
Credit Union Type:Federal Credit Union
Charter Number:24704
Membership Type:Community credit unions, urban or rural, other than those designated 'low income'
Corporate Credit Union:No
Year Opened:2003
Last Audited:Sep 01, 2019
FHLB Member:No
Low Income Designation:No
Assets:$6,448,641
CEO/Manager:Gregg H Brown
Chairperson:Byron Jones

Call Report

  • Credit Builder
  • Micro Business Loans
  • Micro Consumer Loans
  • Participation Loans
  • Pay Day Loans
  • Real Estate Loans
  • Payday Alternative Loans (PAL Loans)
  • ATM/Debit Card Program
  • Commercial Share Accounts
  • First Time Homebuyer Program
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 2,552,631
TOTAL INVESTMENTS 1,642,100
Loans Held for Sale 0
 
 Real Estate Loans 204,273
 Unsecured Loans 203,286
 Other Loans 1,712,032
 TOTAL LOANS 2,119,591
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -18,451
 Land And Building 0
 Other Fixed Assets 0
 NCUSIF Deposit 38,019
 All Other Assets 114,751
  TOTAL ASSETS 6,448,641
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 70,000
 Accounts Payable & Other Liabilities 21,762
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 130,000
 Share Drafts 588,627
 Regular shares 4,938,978
 All Other Shares & Deposits 307,223
  TOTAL SHARES & DEPOSITS 5,834,828
  TOTAL LIABILITIES 6,056,590
 Regular Reserve 18,260
 Other Reserves 0
 Undivided Earnings 373,791
  TOTAL EQUITY 392,051
  TOTAL LIABILITIES, SHARES, & EQUITY 6,448,641
INCOME & EXPENSE  
 Loan Income 29,725
 Investment Income 2,920
 Other Income 14,430
 Total Employee Compensation & Benefits 63,552
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 33,052
 Non-operating Income & (Expense) 75,011
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 2,415
 Cost of Funds 2,590
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 20,477
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