Dec, 31, 2023 — WESTEX FEDERAL CREDIT UNION is a federal credit union headquartered in LUBBOCK, TX with 4 branch locations and about $79.41 million in total assets. Opened 78 years ago in 1946, WESTEX FEDERAL CREDIT UNION has about 6,994 members and employs 16 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | WESTEX FEDERAL CREDIT UNION |
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Address: (Main Office) | 901 Avenue Q LUBBOCK, TX 79401 |
Phone: | (806) 765-5701 |
Fax: | (806) 765-8423 |
Website: | https://www.westexfcu.com |
Branches: | 4 branch locations |
Members: | 6,994 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 5373 |
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Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
Corporate Credit Union: | No |
Year Opened: | 1946 |
Last Audited: | May 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $79,412,178 |
CEO/Manager: | Vicki L Love |
Chairperson: | Albert Perez |
ASSETS: | $ Amount |
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Cash & Equivalents | 5,998,942 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 3,746,637 |
Unsecured Loans | 2,395,101 |
Other Loans | 22,650,787 |
TOTAL LOANS | 28,792,525 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -182,355 |
Land And Building | 2,155,831 |
Other Fixed Assets | 334,252 |
NCUSIF Deposit | 717,928 |
All Other Assets | 40,359 |
TOTAL ASSETS | 79,412,178 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 886,334 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 15,205,099 |
Regular shares | 33,380,032 |
All Other Shares & Deposits | 22,327,443 |
TOTAL SHARES & DEPOSITS | 70,912,574 |
TOTAL LIABILITIES | 71,798,908 |
Regular Reserve | 0 |
Other Reserves | 718,820 |
Undivided Earnings | 6,894,450 |
TOTAL EQUITY | 7,613,270 |
TOTAL LIABILITIES, SHARES, & EQUITY | 79,412,178 |
INCOME & EXPENSE | |
Loan Income | 1,390,692 |
Investment Income | 1,155,699 |
Other Income | 73,776 |
Total Employee Compensation & Benefits | 1,334,692 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 1,432,815 |
Non-operating Income & (Expense) | 48,456 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 129,349 |
Cost of Funds | 481,406 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 11,503 |
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