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 |
| 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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