Jun, 30, 2024 — KINECTA FEDERAL CREDIT UNION is a federal credit union headquartered in MANHATTAN BEACH, CA with 32 branch locations and about $6.47 billion in total assets. Opened 85 years ago in 1940, KINECTA FEDERAL CREDIT UNION has about 267,622 members and employs 858 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | KINECTA FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 1440 Rosecrans Ave MANHATTAN BEACH, CA 90266 |
| Phone: | (310) 643-2045 |
| Fax: | (310) 727-8220 |
| Website: | https://www.kinecta.org |
| Branches: | 32 branch locations |
| Members: | 267,622 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 4142 |
|---|---|
| Membership Type: | Multiple common bond - Primarily transportation equipment |
| Corporate Credit Union: | No |
| Year Opened: | 1940 |
| Last Audited: | Dec 01, 2021 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $6,472,085,345 |
| CEO/Manager: | Keith A Sultemeier |
| Chairperson: | Jeffry Y Yonemura |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 363,892,152 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 28,305,130 |
| Real Estate Loans | 3,622,962,418 |
| Unsecured Loans | 390,868,114 |
| Other Loans | 1,291,851,022 |
| TOTAL LOANS | 5,305,681,554 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -30,600,000 |
| Land And Building | 68,005,875 |
| Other Fixed Assets | 44,619,979 |
| NCUSIF Deposit | 54,533,469 |
| All Other Assets | 329,958 |
| TOTAL ASSETS | 6,472,085,345 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 84,671,343 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 1,372,484,564 |
| Regular shares | 1,776,524,047 |
| All Other Shares & Deposits | 2,724,954,821 |
| TOTAL SHARES & DEPOSITS | 5,873,963,432 |
| TOTAL LIABILITIES | 5,958,634,775 |
| Regular Reserve | 0 |
| Other Reserves | 56,987,944 |
| Undivided Earnings | 456,462,626 |
| TOTAL EQUITY | 513,450,570 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 6,472,085,345 |
| INCOME & EXPENSE | |
| Loan Income | 137,584,954 |
| Investment Income | 18,591,080 |
| Other Income | 16,016,384 |
| Total Employee Compensation & Benefits | 77,411,654 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 61,296,803 |
| Non-operating Income & (Expense) | 563,097 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 488,397 |
| Cost of Funds | 22,857,982 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 22,156,571 |
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