Jun, 30, 2024 — I.L.W.U. FEDERAL CREDIT UNION is a federal credit union headquartered in LONG BEACH, CA with 6 branch locations and about $433.11 million in total assets. Opened 52 years ago in 1972, I.L.W.U. FEDERAL CREDIT UNION has about 24,183 members and employs 67 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | I.L.W.U. FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 3447 Atlantic Ave LONG BEACH, CA 90807 |
| Phone: | (310) 834-6411 |
| Fax: | (310) 834-2151 |
| Website: | https://www.ilwucu.org |
| Branches: | 6 branch locations |
| Members: | 24,183 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 24916 |
|---|---|
| Membership Type: | Multiple common bond - other |
| Corporate Credit Union: | No |
| Year Opened: | 1972 |
| Last Audited: | Dec 01, 2021 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $433,108,691 |
| CEO/Manager: | Ralph E Ruiz |
| Chairperson: | Peter Ciaramitaro |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 11,951,503 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 141,343,007 |
| Unsecured Loans | 33,723,739 |
| Other Loans | 119,152,321 |
| TOTAL LOANS | 294,219,067 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -685,301 |
| Land And Building | 10,973,968 |
| Other Fixed Assets | 3,556,738 |
| NCUSIF Deposit | 3,584,113 |
| All Other Assets | 0 |
| TOTAL ASSETS | 433,108,691 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 15,300,000 |
| Accounts Payable & Other Liabilities | 4,960,346 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 51,986,182 |
| Regular shares | 177,281,788 |
| All Other Shares & Deposits | 155,222,846 |
| TOTAL SHARES & DEPOSITS | 384,490,816 |
| TOTAL LIABILITIES | 404,751,162 |
| Regular Reserve | 0 |
| Other Reserves | -7,831,117 |
| Undivided Earnings | 36,188,646 |
| TOTAL EQUITY | 28,357,529 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 433,108,691 |
| INCOME & EXPENSE | |
| Loan Income | 9,320,316 |
| Investment Income | 785,498 |
| Other Income | 1,781,222 |
| Total Employee Compensation & Benefits | 5,417,418 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 5,771,605 |
| Non-operating Income & (Expense) | 527,262 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | -42,181 |
| Cost of Funds | 1,047,052 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 2,088,784 |
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