Dec, 31, 2023 — EVOLVE FEDERAL CREDIT UNION is a federal credit union headquartered in EL PASO, TX with 9 branch locations and about $334.32 million in total assets. Opened 88 years ago in 1936, EVOLVE FEDERAL CREDIT UNION has about 15,516 members and employs 66 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | EVOLVE FEDERAL CREDIT UNION |
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Address: (Main Office) | 8820 Gazelle Dr EL PASO, TX 79925 |
Phone: | (915) 593-5866 |
Fax: | (915) 593-1798 |
Website: | https://www.evolvefcu.org |
Branches: | 9 branch locations |
Members: | 15,516 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 1792 |
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Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
Corporate Credit Union: | No |
Year Opened: | 1936 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $334,319,761 |
CEO/Manager: | Kenneth Walters |
Chairperson: | Linda Gonzalez-Hensgen |
ASSETS: | $ Amount |
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Cash & Equivalents | 11,851,020 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 113,551,131 |
Unsecured Loans | 9,757,654 |
Other Loans | 101,862,386 |
TOTAL LOANS | 225,171,171 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -378,160 |
Land And Building | 12,950,632 |
Other Fixed Assets | 1,501,909 |
NCUSIF Deposit | 3,168,847 |
All Other Assets | 0 |
TOTAL ASSETS | 334,319,761 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 410,582 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 9,768,653 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 71,793,588 |
Regular shares | 115,858,298 |
All Other Shares & Deposits | 111,093,756 |
TOTAL SHARES & DEPOSITS | 298,745,643 |
TOTAL LIABILITIES | 308,924,878 |
Regular Reserve | 0 |
Other Reserves | -11,045,645 |
Undivided Earnings | 36,440,528 |
TOTAL EQUITY | 25,394,883 |
TOTAL LIABILITIES, SHARES, & EQUITY | 334,319,761 |
INCOME & EXPENSE | |
Loan Income | 9,336,231 |
Investment Income | 1,735,933 |
Other Income | 1,963,532 |
Total Employee Compensation & Benefits | 5,573,369 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 6,063,950 |
Non-operating Income & (Expense) | 32,854 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 302,933 |
Cost of Funds | 3,331,636 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | -425,260 |
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