Dec, 31, 2023 — SOUTH BAY CREDIT UNION is a non-federally insured state credit union headquartered in REDONDO BEACH, CA with 3 branch locations and about $156.70 million in total assets. Opened 71 years ago in 1953, SOUTH BAY CREDIT UNION has about 9,434 members and employs 27 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | SOUTH BAY CREDIT UNION |
|---|---|
| Address: (Main Office) | 312 N Pacific Coast Hwy REDONDO BEACH, CA 90277-2837 |
| Phone: | (310) 374-3436 |
| Fax: | |
| Website: | https://southbaycu.com |
| Branches: | 3 branch locations |
| Members: | 9,434 |
| Credit Union Type: | Non-Federally Insured State Credit Union |
| Charter Number: | 95052 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1953 |
| Last Audited: | Jun 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $156,698,184 |
| CEO/Manager: | PARIS CHEVALIER-BOOCHEE |
| Chairperson: | CHRIS OTEY |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 3,111,245 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 71,181,115 |
| Unsecured Loans | 9,747,545 |
| Other Loans | 38,737,677 |
| TOTAL LOANS | 119,666,337 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -674,432 |
| Land And Building | 5,076,770 |
| Other Fixed Assets | 326,791 |
| NCUSIF Deposit | 0 |
| All Other Assets | 0 |
| TOTAL ASSETS | 156,698,184 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 5,897,422 |
| Accounts Payable & Other Liabilities | 2,005,848 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 32,063,300 |
| Regular shares | 48,834,344 |
| All Other Shares & Deposits | 54,222,429 |
| TOTAL SHARES & DEPOSITS | 135,120,073 |
| TOTAL LIABILITIES | 143,023,343 |
| Regular Reserve | 0 |
| Other Reserves | -1,351,372 |
| Undivided Earnings | 15,026,213 |
| TOTAL EQUITY | 13,674,841 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 156,698,184 |
| INCOME & EXPENSE | |
| Loan Income | 5,690,526 |
| Investment Income | 538,158 |
| Other Income | 1,118,573 |
| Total Employee Compensation & Benefits | 2,853,705 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 3,460,123 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
| Cost of Funds | 1,515,585 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 341,305 |
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