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SOUTH SHOP FEDERAL CREDIT UNION

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
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
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

Call Report

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
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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