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SCHOOLS FEDERAL CREDIT UNION

Mar, 31, 2021 — SCHOOLS FEDERAL CREDIT UNION is a federal credit union headquartered in Torrance, CA with 2 branch locations and about $163.65 million in total assets. Opened 82 years ago in 1939, SCHOOLS FEDERAL CREDIT UNION has about 15,219 members and employs 31 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 Ste150
Torrance, CA 90502-1306
Phone:(310) 632-0100
Fax:(310) 632-6110
Website:http://www.schoolsfcu.org
Branches:2 branch locations
Members:15,219
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, 2020
FHLB Member:No
Low Income Designation:No
Assets:$163,654,063
CEO/Manager:Carlos Garrido
Chairperson:Enrique Boull't

Call Report

  • Commercial Loans
  • Indirect Consumer Loans
  • Overdraft Lines of Credit
  • Overdraft Protection
  • Participation Loans
  • Real Estate Loans
  • Risk Based Loans
  • Share Secured Credit Cards
  • Payday Alternative Loans (PAL Loans)
  • ATM/Debit Card Program
  • Check Cashing
  • In-School Branches
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 23,683,598
TOTAL INVESTMENTS 59,462,807
Loans Held for Sale 0
 
 Real Estate Loans 33,191,130
 Unsecured Loans 7,786,291
 Other Loans 35,025,706
 TOTAL LOANS 76,003,127
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -2,038,193
 Land And Building 0
 Other Fixed Assets 761,530
 NCUSIF Deposit 1,232,914
 All Other Assets 4,548,280
  TOTAL ASSETS 163,654,063
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 1,784,686
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 33,105,394
 Regular shares 57,134,725
 All Other Shares & Deposits 52,735,294
  TOTAL SHARES & DEPOSITS 142,975,413
  TOTAL LIABILITIES 144,760,099
 Regular Reserve 2,465,807
 Other Reserves 98,610
 Undivided Earnings 16,329,547
  TOTAL EQUITY 18,893,964
  TOTAL LIABILITIES, SHARES, & EQUITY 163,654,063
INCOME & EXPENSE  
 Loan Income 940,146
 Investment Income 52,929
 Other Income 348,482
 Total Employee Compensation & Benefits 656,823
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 669,683
 Non-operating Income & (Expense) 13,612
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 86,667
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -14,237
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