Dec, 31, 2023 — ORGANIZED LABOR CREDIT UNION is a federally insured state chartered credit union headquartered in MODESTO, CA with 1 branch location and about $37.67 million in total assets. Opened 50 years ago in 1974, ORGANIZED LABOR CREDIT UNION has about 3,479 members and employs 5 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | ORGANIZED LABOR CREDIT UNION |
|---|---|
| Address: (Main Office) | 2112 McHenry Ave MODESTO, CA 95350 |
| Phone: | (209) 527-8731 |
| Fax: | (209) 527-4035 |
| Website: | https://www.olcu.org |
| Branches: | 1 branch locations |
| Members: | 3,479 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 61942 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1974 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $37,667,914 |
| CEO/Manager: | Sara Klein |
| Chairperson: | Ed Dicochea |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 2,790,511 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 5,082,275 |
| Unsecured Loans | 1,494,603 |
| Other Loans | 9,715,083 |
| TOTAL LOANS | 16,291,961 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -100,982 |
| Land And Building | 2,184,342 |
| Other Fixed Assets | 14,985 |
| NCUSIF Deposit | 314,354 |
| All Other Assets | 0 |
| TOTAL ASSETS | 37,667,914 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 478,786 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 8,064,891 |
| Regular shares | 23,171,004 |
| All Other Shares & Deposits | 2,791,581 |
| TOTAL SHARES & DEPOSITS | 34,027,475 |
| TOTAL LIABILITIES | 34,506,261 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 3,161,653 |
| TOTAL EQUITY | 3,161,653 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 37,667,914 |
| INCOME & EXPENSE | |
| Loan Income | 815,101 |
| Investment Income | 376,047 |
| Other Income | 206,787 |
| Total Employee Compensation & Benefits | 544,053 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 680,148 |
| Non-operating Income & (Expense) | 128,336 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 67,365 |
| Cost of Funds | 34,464 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 334,274 |
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