Dec, 31, 2023 — GECU is a federal credit union headquartered in EL PASO, TX with 31 branch locations and about $4.42 billion in total assets. Opened 92 years ago in 1932, GECU has about 431,245 members and employs 959 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | GECU |
|---|---|
| Address: (Main Office) | 1225 Airway Blvd EL PASO, TX 79925 |
| Phone: | (915) 778-9221 |
| Fax: | |
| Website: | https://www.gecu.com |
| Branches: | 31 branch locations |
| Members: | 431,245 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 24941 |
|---|---|
| Membership Type: | Multiple common bond - other |
| Corporate Credit Union: | No |
| Year Opened: | 1932 |
| Last Audited: | Dec 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $4,420,919,588 |
| CEO/Manager: | Crystal Long |
| Chairperson: | Greg Watters |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 113,565,014 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 2,299,322 |
| Real Estate Loans | 767,397,115 |
| Unsecured Loans | 489,513,968 |
| Other Loans | 2,022,454,187 |
| TOTAL LOANS | 3,281,479,739 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -49,170,466 |
| Land And Building | 49,811,747 |
| Other Fixed Assets | 25,642,691 |
| NCUSIF Deposit | 30,700,120 |
| All Other Assets | 875,620 |
| TOTAL ASSETS | 4,420,919,588 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 1,826,157 |
| Notes & Interest Payable | 563,500,000 |
| Accounts Payable & Other Liabilities | 77,559,611 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 775,721,566 |
| Regular shares | 1,263,807,819 |
| All Other Shares & Deposits | 1,254,521,412 |
| TOTAL SHARES & DEPOSITS | 3,294,050,797 |
| TOTAL LIABILITIES | 3,937,015,830 |
| Regular Reserve | 0 |
| Other Reserves | -93,845 |
| Undivided Earnings | 483,997,603 |
| TOTAL EQUITY | 483,903,758 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 4,420,919,588 |
| INCOME & EXPENSE | |
| Loan Income | 200,388,259 |
| Investment Income | 16,733,999 |
| Other Income | 39,856,912 |
| Total Employee Compensation & Benefits | 74,610,505 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 98,508,598 |
| Non-operating Income & (Expense) | 3,113,683 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 26,308,694 |
| Cost of Funds | 57,587,282 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 42,618,000 |
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