Dec, 31, 2023 — VALLEY STRONG CREDIT UNION is a federally insured state chartered credit union headquartered in BAKERSFIELD, CA with 30 branch locations and about $4.03 billion in total assets. Opened 84 years ago in 1940, VALLEY STRONG CREDIT UNION has about 313,735 members and employs 592 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | VALLEY STRONG CREDIT UNION |
|---|---|
| Address: (Main Office) | 11500 Bolthouse Dr BAKERSFIELD, CA 93311-8822 |
| Phone: | (661) 833-7900 |
| Fax: | |
| Website: | https://www.valleystrong.com |
| Branches: | 30 branch locations |
| Members: | 313,735 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 68712 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1940 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $4,028,096,555 |
| CEO/Manager: | Nicholas J Ambrosini |
| Chairperson: | Joe Drew |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 136,846,884 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 20,998,173 |
| Real Estate Loans | 2,145,833,245 |
| Unsecured Loans | 265,262,773 |
| Other Loans | 695,344,231 |
| TOTAL LOANS | 3,106,440,249 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -34,504,625 |
| Land And Building | 59,386,548 |
| Other Fixed Assets | 28,342,387 |
| NCUSIF Deposit | 32,932,636 |
| All Other Assets | 588,743 |
| TOTAL ASSETS | 4,028,096,555 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 379,810 |
| Notes & Interest Payable | 290,000,000 |
| Accounts Payable & Other Liabilities | 87,641,074 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 742,236,684 |
| Regular shares | 1,315,333,704 |
| All Other Shares & Deposits | 1,310,205,429 |
| TOTAL SHARES & DEPOSITS | 3,367,775,818 |
| TOTAL LIABILITIES | 3,745,796,702 |
| Regular Reserve | 0 |
| Other Reserves | 108,298,390 |
| Undivided Earnings | 174,001,463 |
| TOTAL EQUITY | 282,299,853 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 4,028,096,555 |
| INCOME & EXPENSE | |
| Loan Income | 183,903,307 |
| Investment Income | 15,757,453 |
| Other Income | 13,357,691 |
| Total Employee Compensation & Benefits | 67,918,022 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 76,498,661 |
| Non-operating Income & (Expense) | 186,728 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 42,169,794 |
| Cost of Funds | 51,924,775 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 18,077,599 |
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