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.
Name: | SCHOOLS FEDERAL CREDIT UNION |
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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 |
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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 |
ASSETS: | $ Amount |
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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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