Dec, 31, 2023 — FRONTWAVE CREDIT UNION is a federally insured state chartered credit union headquartered in OCEANSIDE, CA with 13 branch locations and about $1.43 billion in total assets. Opened 72 years ago in 1952, FRONTWAVE CREDIT UNION has about 124,372 members and employs 268 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | FRONTWAVE CREDIT UNION |
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Address: (Main Office) | 1278 Rocky Point Dr OCEANSIDE, CA 92056 |
Phone: | (800) 736-4500 |
Fax: | (877) 789-7628 |
Website: | https://www.frontwavecu.com |
Branches: | 13 branch locations |
Members: | 124,372 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 68494 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1952 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $1,429,880,748 |
CEO/Manager: | William E Birnie |
Chairperson: | Brian Sutton |
ASSETS: | $ Amount |
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Cash & Equivalents | 126,829,721 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 573,214,681 |
Unsecured Loans | 72,972,189 |
Other Loans | 298,018,522 |
TOTAL LOANS | 944,205,393 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -7,707,017 |
Land And Building | 22,199,085 |
Other Fixed Assets | 4,074,741 |
NCUSIF Deposit | 11,229,831 |
All Other Assets | 14,184 |
TOTAL ASSETS | 1,429,880,748 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 100,000,000 |
Accounts Payable & Other Liabilities | 28,605,681 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 347,449,275 |
Regular shares | 296,958,807 |
All Other Shares & Deposits | 559,009,646 |
TOTAL SHARES & DEPOSITS | 1,203,417,728 |
TOTAL LIABILITIES | 1,332,023,409 |
Regular Reserve | 0 |
Other Reserves | -35,625,547 |
Undivided Earnings | 133,482,886 |
TOTAL EQUITY | 97,857,339 |
TOTAL LIABILITIES, SHARES, & EQUITY | 1,429,880,748 |
INCOME & EXPENSE | |
Loan Income | 41,974,964 |
Investment Income | 7,614,687 |
Other Income | 11,344,935 |
Total Employee Compensation & Benefits | 25,834,523 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 28,689,199 |
Non-operating Income & (Expense) | 4,432,612 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 6,239,478 |
Cost of Funds | 16,714,419 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 4,240,267 |
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» See also Statement of Financial Condition