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National Credit Union Service Organization

SOUTH SIDE COMMUNITY FEDERAL CREDIT UNION

Dec, 31, 2021 — SOUTH SIDE COMMUNITY FEDERAL CREDIT UNION is a federal credit union headquartered in CHICAGO, IL with 1 branch location and about $7.21 million in total assets. Opened 19 years ago in 2003, SOUTH SIDE COMMUNITY FEDERAL CREDIT UNION has about 1,700 members and employs 6 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
CHICAGO, IL 60609-6349
Phone:(773) 548-5500
Fax:(773) 548-5533
Website:http://www.southsidecommunityfcu.org/
Branches:1 branch locations
Members:1,700
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:Jun 01, 2021
FHLB Member:No
Low Income Designation:No
Assets:$7,214,151
CEO/Manager:Gregg H Brown
Chairperson:Byron Jones

Call Report

  • Credit Builder
  • Payday Alternative Loans (PAL Loans)
  • First Time Homebuyer Program
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 2,919,539
TOTAL INVESTMENTS 2,486,771
Loans Held for Sale 0
 
 Real Estate Loans 195,654
 Unsecured Loans 128,919
 Other Loans 1,405,403
 TOTAL LOANS 1,729,976
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -15,990
 Land And Building 0
 Other Fixed Assets 0
 NCUSIF Deposit 53,937
 All Other Assets 39,918
  TOTAL ASSETS 7,214,151
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 30,000
 Accounts Payable & Other Liabilities 526,229
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 170,000
 Share Drafts 832,782
 Regular shares 4,408,351
 All Other Shares & Deposits 383,746
  TOTAL SHARES & DEPOSITS 5,624,879
  TOTAL LIABILITIES 6,351,108
 Regular Reserve 68,260
 Other Reserves 0
 Undivided Earnings 794,783
  TOTAL EQUITY 863,043
  TOTAL LIABILITIES, SHARES, & EQUITY 7,214,151
INCOME & EXPENSE  
 Loan Income 111,687
 Investment Income 13,446
 Other Income 53,370
 Total Employee Compensation & Benefits 293,299
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 169,791
 Non-operating Income & (Expense) 778,123
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 16,337
 Cost of Funds 7,200
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 499,112
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