Dec, 31, 2022 — CHICAGO AREA OFFICE FEDERAL CREDIT UNION is a federal credit union headquartered in CHICAGO, IL with 1 branch location and about $10.28 million in total assets. Opened 80 years ago in 1943, CHICAGO AREA OFFICE FEDERAL CREDIT UNION has about 1,334 members and employs 3 full and part-time employees 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: | 1,334 |
| 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: | Apr 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $10,280,898 |
| CEO/Manager: | Robin H Shannon |
| Chairperson: | Elizabeth Mitchell |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,908,828 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 1,096,587 |
| Other Loans | 1,537,857 |
| TOTAL LOANS | 2,634,444 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -61,899 |
| Land And Building | 0 |
| Other Fixed Assets | 11,372 |
| NCUSIF Deposit | 81,799 |
| All Other Assets | 0 |
| TOTAL ASSETS | 10,280,898 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 62,901 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 1,630,043 |
| Regular shares | 5,801,974 |
| All Other Shares & Deposits | 660,856 |
| TOTAL SHARES & DEPOSITS | 8,092,873 |
| TOTAL LIABILITIES | 8,155,774 |
| Regular Reserve | 0 |
| Other Reserves | 582,989 |
| Undivided Earnings | 1,542,135 |
| TOTAL EQUITY | 2,125,124 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 10,280,898 |
| INCOME & EXPENSE | |
| Loan Income | 169,589 |
| Investment Income | 73,291 |
| Other Income | 33,878 |
| Total Employee Compensation & Benefits | 185,132 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 154,162 |
| Non-operating Income & (Expense) | 38,785 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 10,400 |
| Cost of Funds | 4,028 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -38,179 |
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