Jun, 30, 2024 — SOUTH BAY CREDIT UNION is a non-federally insured state credit union headquartered in REDONDO BEACH, CA with 3 branch locations and about $146.45 million in total assets. Opened 72 years ago in 1953, SOUTH BAY CREDIT UNION has about 9,200 members and employs 24 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: | 9,200 |
| 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, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $146,446,036 |
| CEO/Manager: | PARIS CHEVALIER-BOOCHEE |
| Chairperson: | CHRIS OTEY |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 13,485,062 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 50,978,608 |
| Unsecured Loans | 9,163,058 |
| Other Loans | 37,477,792 |
| TOTAL LOANS | 97,619,458 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -920,454 |
| Land And Building | 5,182,543 |
| Other Fixed Assets | 326,574 |
| NCUSIF Deposit | 0 |
| All Other Assets | 0 |
| TOTAL ASSETS | 146,446,036 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 1,441,509 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 34,982,429 |
| Regular shares | 63,546,036 |
| All Other Shares & Deposits | 33,663,764 |
| TOTAL SHARES & DEPOSITS | 132,192,229 |
| TOTAL LIABILITIES | 133,633,738 |
| Regular Reserve | 0 |
| Other Reserves | -1,738,017 |
| Undivided Earnings | 14,550,315 |
| TOTAL EQUITY | 12,812,298 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 146,446,036 |
| INCOME & EXPENSE | |
| Loan Income | 2,856,238 |
| Investment Income | 300,578 |
| Other Income | 753,798 |
| Total Employee Compensation & Benefits | 1,753,934 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 2,125,300 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
| Cost of Funds | 171,812 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 352,442 |
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