Dec, 31, 2023 — PRIORITY ONE CREDIT UNION is a federally insured state chartered credit union headquartered in SOUTH PASADENA, CA with 3 branch locations and about $192.46 million in total assets. Opened 95 years ago in 1929, PRIORITY ONE CREDIT UNION has about 16,917 members and employs 43 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | PRIORITY ONE CREDIT UNION |
|---|---|
| Address: (Main Office) | 1631 Huntington Dr SOUTH PASADENA, CA 91030-4746 |
| Phone: | (626) 441-1999 |
| Fax: | (626) 441-1756 |
| Website: | https://www.priorityonecu.org |
| Branches: | 3 branch locations |
| Members: | 16,917 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 60024 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1929 |
| Last Audited: | Mar 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $192,463,294 |
| CEO/Manager: | Charles R Wiggington, Sr. |
| Chairperson: | Diedra Harris-Brooks |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 23,484,825 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 49,876,822 |
| Unsecured Loans | 12,330,510 |
| Other Loans | 35,428,457 |
| TOTAL LOANS | 97,635,789 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -921,184 |
| Land And Building | 1,101,224 |
| Other Fixed Assets | 485,720 |
| NCUSIF Deposit | 1,770,326 |
| All Other Assets | 21,733 |
| TOTAL ASSETS | 192,463,294 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 1,026,189 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 43,443,679 |
| Regular shares | 91,442,456 |
| All Other Shares & Deposits | 38,738,531 |
| TOTAL SHARES & DEPOSITS | 173,624,666 |
| TOTAL LIABILITIES | 174,650,855 |
| Regular Reserve | 0 |
| Other Reserves | -4,576,986 |
| Undivided Earnings | 22,389,425 |
| TOTAL EQUITY | 17,812,439 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 192,463,294 |
| INCOME & EXPENSE | |
| Loan Income | 5,348,496 |
| Investment Income | 3,122,804 |
| Other Income | 3,057,983 |
| Total Employee Compensation & Benefits | 4,620,167 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 3,705,164 |
| Non-operating Income & (Expense) | 50 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 526,647 |
| Cost of Funds | 744,629 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 2,544,634 |
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