Jun, 30, 2024 — GAIN FEDERAL CREDIT UNION is a federal credit union headquartered in BURBANK, CA with 1 branch location and about $467.42 million in total assets. Opened 85 years ago in 1940, GAIN FEDERAL CREDIT UNION has about 20,958 members and employs 74 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | GAIN FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 1800 W Magnolia Blvd BURBANK, CA 91506-1726 |
| Phone: | (818) 846-1710 |
| Fax: | (818) 848-1526 |
| Website: | https://www.gainfcu.com |
| Branches: | 1 branch locations |
| Members: | 20,958 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 3943 |
|---|---|
| Membership Type: | Multiple common bond - Primarily federal, state, local government |
| Corporate Credit Union: | No |
| Year Opened: | 1940 |
| Last Audited: | Dec 01, 2021 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $467,420,099 |
| CEO/Manager: | Darin Guggenheimer |
| Chairperson: | Kim Freed |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 41,834,240 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 183,394,557 |
| Unsecured Loans | 17,165,812 |
| Other Loans | 76,457,396 |
| TOTAL LOANS | 277,017,765 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -745,810 |
| Land And Building | 9,702,802 |
| Other Fixed Assets | 1,257,613 |
| NCUSIF Deposit | 3,979,343 |
| All Other Assets | 0 |
| TOTAL ASSETS | 467,420,099 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 3,158,052 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 97,339,887 |
| Regular shares | 211,585,524 |
| All Other Shares & Deposits | 138,085,038 |
| TOTAL SHARES & DEPOSITS | 447,010,449 |
| TOTAL LIABILITIES | 450,168,501 |
| Regular Reserve | 0 |
| Other Reserves | -17,943,541 |
| Undivided Earnings | 35,195,139 |
| TOTAL EQUITY | 17,251,598 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 467,420,099 |
| INCOME & EXPENSE | |
| Loan Income | 6,915,814 |
| Investment Income | 1,474,088 |
| Other Income | 1,310,941 |
| Total Employee Compensation & Benefits | 5,237,215 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 4,379,496 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | -1,000,000 |
| Cost of Funds | 670,634 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 2,848,075 |
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