Jun, 30, 2024 — GLENDALE AREA SCHOOLS CREDIT UNION is a non-federally insured state credit union headquartered in GLENDALE, CA with 2 branch locations and about $450.01 million in total assets. Opened 88 years ago in 1937, GLENDALE AREA SCHOOLS CREDIT UNION has about 11,322 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: | GLENDALE AREA SCHOOLS CREDIT UNION |
|---|---|
| Address: (Main Office) | 1800 BROADVIEW DR GLENDALE, CA 91208 |
| Phone: | (818) 248-7425 |
| Fax: | (818) 248-3486 |
| Website: | https://gascu.org |
| Branches: | 2 branch locations |
| Members: | 11,322 |
| Credit Union Type: | Non-Federally Insured State Credit Union |
| Charter Number: | 97101 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1937 |
| Last Audited: | Sep 01, 2021 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $450,007,215 |
| CEO/Manager: | Wesley Walton |
| Chairperson: | Robert Ross |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 33,666,935 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 67,123,439 |
| Unsecured Loans | 10,552,203 |
| Other Loans | 31,764,033 |
| TOTAL LOANS | 109,439,675 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,256,647 |
| Land And Building | 1,000,000 |
| Other Fixed Assets | 203,750 |
| NCUSIF Deposit | 0 |
| All Other Assets | 0 |
| TOTAL ASSETS | 450,007,215 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 3,054,805 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 78,881,227 |
| Regular shares | 131,609,907 |
| All Other Shares & Deposits | 195,451,968 |
| TOTAL SHARES & DEPOSITS | 405,943,102 |
| TOTAL LIABILITIES | 408,997,907 |
| Regular Reserve | 0 |
| Other Reserves | -12,661,891 |
| Undivided Earnings | 53,671,199 |
| TOTAL EQUITY | 41,009,308 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 450,007,215 |
| INCOME & EXPENSE | |
| Loan Income | 2,721,396 |
| Investment Income | 4,429,548 |
| Other Income | 244,258 |
| Total Employee Compensation & Benefits | 1,659,083 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,648,262 |
| Non-operating Income & (Expense) | 44,382 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 225,000 |
| Cost of Funds | 2,219,556 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 4,051,335 |
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