Dec, 31, 2023 — KOREAN AMERICAN CATHOLICS FEDERAL CREDIT UNION is a federal credit union headquartered in FLUSHING, NY with 1 branch location and about $31.39 million in total assets. Opened 45 years ago in 1979, KOREAN AMERICAN CATHOLICS FEDERAL CREDIT UNION has about 1,831 members and employs 8 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | KOREAN AMERICAN CATHOLICS FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 14419 33rd Ave FLUSHING, NY 11354-3143 |
| Phone: | (718) 353-7676 |
| Fax: | (718) 353-8291 |
| Website: | https://www.kacfcu.org |
| Branches: | 1 branch locations |
| Members: | 1,831 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 23503 |
|---|---|
| Membership Type: | Multiple common bond - Primarily faith based |
| Corporate Credit Union: | No |
| Year Opened: | 1979 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $31,390,849 |
| CEO/Manager: | Eunhee Yu |
| Chairperson: | Young Sun Choe |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 3,241,490 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 25,238,303 |
| Unsecured Loans | 900,723 |
| Other Loans | 44,454 |
| TOTAL LOANS | 26,183,480 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -32,844 |
| Land And Building | 241,384 |
| Other Fixed Assets | 507 |
| NCUSIF Deposit | 274,694 |
| All Other Assets | 0 |
| TOTAL ASSETS | 31,390,849 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 165,002 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 19,738 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 12,981,229 |
| Regular shares | 4,194,234 |
| All Other Shares & Deposits | 10,337,154 |
| TOTAL SHARES & DEPOSITS | 27,512,617 |
| TOTAL LIABILITIES | 27,697,357 |
| Regular Reserve | 0 |
| Other Reserves | 155,841 |
| Undivided Earnings | 3,537,651 |
| TOTAL EQUITY | 3,693,492 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 31,390,849 |
| INCOME & EXPENSE | |
| Loan Income | 1,230,175 |
| Investment Income | 141,128 |
| Other Income | 48,980 |
| Total Employee Compensation & Benefits | 707,798 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 487,569 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
| Cost of Funds | 210,007 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 59,631 |
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