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SCHOOLS FEDERAL CREDIT UNION

Dec, 31, 2023 — SCHOOLS FEDERAL CREDIT UNION is a federal credit union headquartered in TORRANCE, CA with 2 branch locations and about $175.49 million in total assets. Opened 85 years ago in 1939, SCHOOLS FEDERAL CREDIT UNION has about 16,026 members and employs 33 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 322078257
Name:SCHOOLS FEDERAL CREDIT UNION
Address:
(Main Office)
20101 Hamilton Ave Ste 150
TORRANCE, CA 90502-1306
Phone:(310) 632-0100
Fax:(310) 632-6110
Website:https://www.schoolsfcu.org
Branches:2 branch locations
Members:16,026
Credit Union Type:Federal Credit Union
Charter Number:3526
Membership Type:Multiple common bond - Primarily educational
Corporate Credit Union:No
Year Opened:1939
Last Audited:Dec 01, 2022
FHLB Member:Yes
Low Income Designation:No
Assets:$175,488,050
CEO/Manager:Carlos Garrido
Chairperson:Margaret Fairlie

Call Report

  • Credit Builder
  • Payday Alternative Loans (PAL Loans)
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 8,372,314
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 34,969,078
 Unsecured Loans 11,185,681
 Other Loans 44,342,748
 TOTAL LOANS 90,497,507
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -764,482
 Land And Building 0
 Other Fixed Assets 392,490
 NCUSIF Deposit 1,480,209
 All Other Assets 0
  TOTAL ASSETS 175,488,050
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 2,032,692
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 36,087,307
 Regular shares 58,510,127
 All Other Shares & Deposits 57,456,746
  TOTAL SHARES & DEPOSITS 152,054,180
  TOTAL LIABILITIES 154,086,872
 Regular Reserve 0
 Other Reserves 2,465,807
 Undivided Earnings 18,935,371
  TOTAL EQUITY 21,401,178
  TOTAL LIABILITIES, SHARES, & EQUITY 175,488,050
INCOME & EXPENSE  
 Loan Income 4,474,466
 Investment Income 1,361,741
 Other Income 1,772,631
 Total Employee Compensation & Benefits 2,396,501
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 3,296,834
 Non-operating Income & (Expense) 48,750
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 440,328
 Cost of Funds 805,545
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 877,125
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