Dec, 31, 2023 — THE FIRST FINANCIAL FEDERAL CREDIT UNION is a federal credit union headquartered in PASADENA, CA with 6 branch locations and about $800.56 million in total assets. Opened 50 years ago in 1974, THE FIRST FINANCIAL FEDERAL CREDIT UNION has about 34,973 members and employs 130 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | THE FIRST FINANCIAL FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 650 Sierra Madre Villa Ave STE 300 PASADENA, CA 91107-2073 |
| Phone: | (800) 537-8491 |
| Fax: | |
| Website: | https://www.ffcu.org |
| Branches: | 6 branch locations |
| Members: | 34,973 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 24875 |
|---|---|
| Membership Type: | Multiple common bond - Primarily educational |
| Corporate Credit Union: | No |
| Year Opened: | 1974 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $800,561,415 |
| CEO/Manager: | Carlton Musmann |
| Chairperson: | Kari Jean McMullin |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 5,679,092 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 183,153,985 |
| Unsecured Loans | 103,514,881 |
| Other Loans | 125,322,187 |
| TOTAL LOANS | 411,991,053 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -3,134,626 |
| Land And Building | 14,438,935 |
| Other Fixed Assets | 1,544,919 |
| NCUSIF Deposit | 7,088,542 |
| All Other Assets | 108,581 |
| TOTAL ASSETS | 800,561,415 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 3,981,189 |
| Notes & Interest Payable | 79,500,000 |
| Accounts Payable & Other Liabilities | 6,174,893 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 183,714,844 |
| Regular shares | 321,941,929 |
| All Other Shares & Deposits | 197,609,971 |
| TOTAL SHARES & DEPOSITS | 703,266,745 |
| TOTAL LIABILITIES | 792,922,827 |
| Regular Reserve | 0 |
| Other Reserves | -46,961,415 |
| Undivided Earnings | 54,600,003 |
| TOTAL EQUITY | 7,638,588 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 800,561,415 |
| INCOME & EXPENSE | |
| Loan Income | 21,093,456 |
| Investment Income | 9,363,908 |
| Other Income | 5,284,174 |
| Total Employee Compensation & Benefits | 16,341,740 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 11,002,813 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 3,270,822 |
| Cost of Funds | 8,362,640 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -2,001,491 |
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