Mar, 31, 2022 — SOUTH SHOP FEDERAL CREDIT UNION is a federal credit union headquartered in ALSIP, IL with 1 branch location and about $14.01 million in total assets. Opened 84 years ago in 1938, SOUTH SHOP FEDERAL CREDIT UNION has about 1,258 members and employs 4 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 SHOP FEDERAL CREDIT UNION |
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Address: (Main Office) | 3737 W 127TH ST ALSIP, IL 60803 |
Phone: | (708) 925-9500 |
Fax: | (773) 873-8334 |
Website: | http://www.southshopfcu.org |
Branches: | 1 branch locations |
Members: | 1,258 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 2682 |
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Membership Type: | Multiple common bond - Primarily transportation |
Corporate Credit Union: | No |
Year Opened: | 1938 |
Last Audited: | Mar 01, 2021 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $14,013,040 |
CEO/Manager: | Frank LaCoco |
Chairperson: | Dennis Rohe |
ASSETS: | $ Amount |
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Cash & Equivalents | 988,559 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 0 |
Unsecured Loans | 1,415,432 |
Other Loans | 2,491,627 |
TOTAL LOANS | 3,907,059 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -123,501 |
Land And Building | 0 |
Other Fixed Assets | 2,119 |
NCUSIF Deposit | 112,859 |
All Other Assets | 0 |
TOTAL ASSETS | 14,013,040 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 29,857 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 0 |
Regular shares | 11,792,994 |
All Other Shares & Deposits | 0 |
TOTAL SHARES & DEPOSITS | 11,792,994 |
TOTAL LIABILITIES | 11,822,851 |
Regular Reserve | 0 |
Other Reserves | 714,796 |
Undivided Earnings | 1,475,393 |
TOTAL EQUITY | 2,190,189 |
TOTAL LIABILITIES, SHARES, & EQUITY | 14,013,040 |
INCOME & EXPENSE | |
Loan Income | 73,493 |
Investment Income | 29,975 |
Other Income | 1,880 |
Total Employee Compensation & Benefits | 53,359 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 28,231 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 4,000 |
Cost of Funds | 7,253 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 12,505 |
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