Dec, 31, 2023 — KINECTA FEDERAL CREDIT UNION is a federal credit union headquartered in MANHATTAN BEACH, CA with 31 branch locations and about $6.84 billion in total assets. Opened 84 years ago in 1940, KINECTA FEDERAL CREDIT UNION has about 260,785 members and employs 788 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: | 31 branch locations |
| Members: | 260,785 |
| 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, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $6,844,773,236 |
| CEO/Manager: | Keith A Sultemeier |
| Chairperson: | Jeffry Y Yonemura |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 267,460,862 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 17,985,141 |
| Real Estate Loans | 4,251,126,759 |
| Unsecured Loans | 333,327,416 |
| Other Loans | 1,260,298,373 |
| TOTAL LOANS | 5,844,752,548 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -60,200,000 |
| Land And Building | 53,649,623 |
| Other Fixed Assets | 46,582,308 |
| NCUSIF Deposit | 53,910,990 |
| All Other Assets | 377,798 |
| TOTAL ASSETS | 6,844,773,236 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 684,720,416 |
| Accounts Payable & Other Liabilities | 67,128,967 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 1,204,035,496 |
| Regular shares | 1,413,058,505 |
| All Other Shares & Deposits | 2,947,824,517 |
| TOTAL SHARES & DEPOSITS | 5,564,918,518 |
| TOTAL LIABILITIES | 6,320,367,901 |
| Regular Reserve | 0 |
| Other Reserves | 63,761,958 |
| Undivided Earnings | 460,643,377 |
| TOTAL EQUITY | 524,405,335 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 6,844,773,236 |
| INCOME & EXPENSE | |
| Loan Income | 249,458,324 |
| Investment Income | 25,534,198 |
| Other Income | 22,843,330 |
| Total Employee Compensation & Benefits | 98,162,190 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 88,293,897 |
| Non-operating Income & (Expense) | -826,303 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 38,040,576 |
| Cost of Funds | 99,725,864 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 42,625 |
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