Dec, 31, 2023 — VA DESERT PACIFIC FEDERAL CREDIT UNION is a federal credit union headquartered in SIGNAL HILL, CA with 2 branch locations and about $88.48 million in total assets. Opened 77 years ago in 1947, VA DESERT PACIFIC FEDERAL CREDIT UNION has about 6,049 members and employs 15 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | VA DESERT PACIFIC FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 2845 Temple Ave SIGNAL HILL, CA 90755 |
| Phone: | (562) 498-1250 |
| Fax: | (562) 597-5122 |
| Website: | https://www.vadpfcu.org |
| Branches: | 2 branch locations |
| Members: | 6,049 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 5530 |
|---|---|
| Membership Type: | Multiple common bond - Primarily federal, state, local government |
| Corporate Credit Union: | No |
| Year Opened: | 1947 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $88,475,759 |
| CEO/Manager: | Christine Wood |
| Chairperson: | Luis E Vallevega |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 4,533,582 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 22,443,358 |
| Unsecured Loans | 6,832,664 |
| Other Loans | 23,708,890 |
| TOTAL LOANS | 52,984,911 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -373,306 |
| Land And Building | 0 |
| Other Fixed Assets | 351,821 |
| NCUSIF Deposit | 685,339 |
| All Other Assets | 0 |
| TOTAL ASSETS | 88,475,759 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 205 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 1,397,981 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 13,127,569 |
| Regular shares | 32,917,266 |
| All Other Shares & Deposits | 25,462,898 |
| TOTAL SHARES & DEPOSITS | 71,507,733 |
| TOTAL LIABILITIES | 72,913,544 |
| Regular Reserve | 0 |
| Other Reserves | -3,142,278 |
| Undivided Earnings | 18,704,493 |
| TOTAL EQUITY | 15,562,215 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 88,475,759 |
| INCOME & EXPENSE | |
| Loan Income | 3,573,523 |
| Investment Income | 894,647 |
| Other Income | 427,167 |
| Total Employee Compensation & Benefits | 1,832,758 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,796,667 |
| Non-operating Income & (Expense) | -49,000 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 267,924 |
| Cost of Funds | 456,119 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,008,064 |
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