Dec, 31, 2023 — HERITAGE USA FEDERAL CREDIT UNION is a federal credit union headquartered in MIDLAND, TX with 2 branch locations and about $86.10 million in total assets. Opened 75 years ago in 1949, HERITAGE USA FEDERAL CREDIT UNION has about 6,262 members and employs 26 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | HERITAGE USA FEDERAL CREDIT UNION |
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Address: (Main Office) | 5507 W Wadley Ave MIDLAND, TX 79707 |
Phone: | (432) 681-1050 |
Fax: | (432) 681-1057 |
Website: | https://www.heritage-usa.net |
Branches: | 2 branch locations |
Members: | 6,262 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 6434 |
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Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
Corporate Credit Union: | No |
Year Opened: | 1949 |
Last Audited: | Nov 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $86,097,089 |
CEO/Manager: | Augustine S Rodriguez |
Chairperson: | Dirk Parks |
ASSETS: | $ Amount |
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Cash & Equivalents | 10,418,180 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 917,367 |
Unsecured Loans | 5,255,263 |
Other Loans | 64,170,609 |
TOTAL LOANS | 70,343,239 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -794,900 |
Land And Building | 1,154,137 |
Other Fixed Assets | 236,098 |
NCUSIF Deposit | 628,961 |
All Other Assets | 0 |
TOTAL ASSETS | 86,097,089 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 100,995 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 1,012,280 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 22,513,841 |
Regular shares | 25,489,547 |
All Other Shares & Deposits | 27,030,323 |
TOTAL SHARES & DEPOSITS | 75,033,711 |
TOTAL LIABILITIES | 76,146,986 |
Regular Reserve | 0 |
Other Reserves | 2,339,735 |
Undivided Earnings | 7,610,368 |
TOTAL EQUITY | 9,950,103 |
TOTAL LIABILITIES, SHARES, & EQUITY | 86,097,089 |
INCOME & EXPENSE | |
Loan Income | 4,214,644 |
Investment Income | 315,653 |
Other Income | 1,038,311 |
Total Employee Compensation & Benefits | 1,713,378 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 1,996,307 |
Non-operating Income & (Expense) | -62,132 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 399,358 |
Cost of Funds | 462,763 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 1,751,110 |
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