Dec, 31, 2023 — GULF COAST FEDERAL CREDIT UNION is a federal credit union headquartered in MOBILE, AL with 3 branch locations and about $51.37 million in total assets. Opened 73 years ago in 1951, GULF COAST FEDERAL CREDIT UNION has about 5,824 members and employs 22 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | GULF COAST FEDERAL CREDIT UNION |
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Address: (Main Office) | 1001 Spring Hill Ave MOBILE, AL 36604-2713 |
Phone: | (251) 438-7464 |
Fax: | (251) 438-2796 |
Website: | https://www.gulfcoastfcu.org |
Branches: | 3 branch locations |
Members: | 5,824 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 7520 |
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Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
Corporate Credit Union: | No |
Year Opened: | 1951 |
Last Audited: | Mar 01, 2022 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $51,368,851 |
CEO/Manager: | John O'Brien |
Chairperson: | Pebbles King |
ASSETS: | $ Amount |
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Cash & Equivalents | 7,372,524 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 6,984,886 |
Unsecured Loans | 3,278,612 |
Other Loans | 11,463,093 |
TOTAL LOANS | 22,117,463 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -107,713 |
Land And Building | 991,610 |
Other Fixed Assets | 22,122 |
NCUSIF Deposit | 582,440 |
All Other Assets | 0 |
TOTAL ASSETS | 51,368,851 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 103,389 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 700,516 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 6,756,293 |
Regular shares | 29,366,247 |
All Other Shares & Deposits | 10,692,364 |
TOTAL SHARES & DEPOSITS | 46,814,905 |
TOTAL LIABILITIES | 47,618,810 |
Regular Reserve | 0 |
Other Reserves | -710,605 |
Undivided Earnings | 4,460,646 |
TOTAL EQUITY | 3,750,041 |
TOTAL LIABILITIES, SHARES, & EQUITY | 51,368,851 |
INCOME & EXPENSE | |
Loan Income | 1,545,800 |
Investment Income | 239,665 |
Other Income | 720,855 |
Total Employee Compensation & Benefits | 1,142,407 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 1,777,908 |
Non-operating Income & (Expense) | 213,698 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 243,841 |
Cost of Funds | 183,043 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | -598,982 |
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