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GULF COAST FEDERAL CREDIT UNION

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
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
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

Call Report

  • Payday Alternative Loans (PAL Loans)
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
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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