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CHICAGO AREA OFFICE FEDERAL CREDIT UNION

Dec, 31, 2023 — CHICAGO AREA OFFICE FEDERAL CREDIT UNION is a federal credit union headquartered in CHICAGO, IL with 1 branch location and about $9.88 million in total assets. Opened 81 years ago in 1943, CHICAGO AREA OFFICE FEDERAL CREDIT UNION has about 1,331 members offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:CHICAGO AREA OFFICE FEDERAL CREDIT UNION
Address:
(Main Office)
600 W MADISON ST
CHICAGO, IL 60661-2406
Phone:(312) 575-5600
Fax:(312) 575-5607
Website:https://www.chicagoareafcu.org
Branches:1 branch locations
Members:1,331
Credit Union Type:Federal Credit Union
Charter Number:5045
Membership Type:Multiple common bond - Primarily federal, state, local government
Corporate Credit Union:No
Year Opened:1943
Last Audited:Feb 01, 2023
FHLB Member:No
Low Income Designation:No
Assets:$9,882,593
CEO/Manager:Robin H Shannon
Chairperson:Elizabeth Mitchell

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 1,315,849
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 1,129,829
 Other Loans 1,850,225
 TOTAL LOANS 2,980,054
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -63,822
 Land And Building 0
 Other Fixed Assets 2,660
 NCUSIF Deposit 74,189
 All Other Assets 0
  TOTAL ASSETS 9,882,593
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 64,068
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 1,690,955
 Regular shares 5,344,166
 All Other Shares & Deposits 664,483
  TOTAL SHARES & DEPOSITS 7,699,604
  TOTAL LIABILITIES 7,763,672
 Regular Reserve 0
 Other Reserves 582,989
 Undivided Earnings 1,535,932
  TOTAL EQUITY 2,118,921
  TOTAL LIABILITIES, SHARES, & EQUITY 9,882,593
INCOME & EXPENSE  
 Loan Income 233,677
 Investment Income 202,020
 Other Income 39,331
 Total Employee Compensation & Benefits 271,281
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 196,201
 Non-operating Income & (Expense) 33,686
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 20,400
 Cost of Funds 5,503
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 15,329
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