Jun, 30, 2024 — SCHOOLS FEDERAL CREDIT UNION is a federal credit union headquartered in TORRANCE, CA with 2 branch locations and about $182.23 million in total assets. Opened 85 years ago in 1939, SCHOOLS FEDERAL CREDIT UNION has about 15,530 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.
| 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: | 15,530 |
| 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, 2021 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $182,230,988 |
| CEO/Manager: | Carlos Garrido |
| Chairperson: | Enrique Boull't |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 8,251,388 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 37,197,067 |
| Unsecured Loans | 9,282,019 |
| Other Loans | 49,620,190 |
| TOTAL LOANS | 96,099,276 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,649,183 |
| Land And Building | 0 |
| Other Fixed Assets | 538,019 |
| NCUSIF Deposit | 1,436,708 |
| All Other Assets | 0 |
| TOTAL ASSETS | 182,230,988 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 10,745 |
| Notes & Interest Payable | 3,500,000 |
| Accounts Payable & Other Liabilities | 1,836,978 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 38,899,467 |
| Regular shares | 60,880,044 |
| All Other Shares & Deposits | 57,433,356 |
| TOTAL SHARES & DEPOSITS | 157,212,867 |
| TOTAL LIABILITIES | 162,560,590 |
| Regular Reserve | 0 |
| Other Reserves | 2,411,369 |
| Undivided Earnings | 17,259,029 |
| TOTAL EQUITY | 19,670,398 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 182,230,988 |
| INCOME & EXPENSE | |
| Loan Income | 3,082,778 |
| Investment Income | 718,621 |
| Other Income | 1,257,626 |
| Total Employee Compensation & Benefits | 2,030,129 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 2,213,546 |
| Non-operating Income & (Expense) | 37,638 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
| Cost of Funds | 331,756 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 642,860 |
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