Dec, 31, 2023 — BRECO FEDERAL CREDIT UNION is a federal credit union headquartered in BATON ROUGE, LA with 3 branch locations and about $51.18 million in total assets. Opened 90 years ago in 1934, BRECO FEDERAL CREDIT UNION has about 5,202 members and employs 14 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | BRECO FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 1850 S Sherwood Forest Blvd BATON ROUGE, LA 70816-8321 |
| Phone: | (225) 273-1529 |
| Fax: | (225) 273-4697 |
| Website: | https://www.brecofcu.com |
| Branches: | 3 branch locations |
| Members: | 5,202 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 24526 |
|---|---|
| Membership Type: | Multiple common bond - Primarily communications and utilities |
| Corporate Credit Union: | No |
| Year Opened: | 1934 |
| Last Audited: | Mar 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $51,177,100 |
| CEO/Manager: | Joshua W Poole |
| Chairperson: | Larry D Sandlin |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 2,040,373 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 2,995,773 |
| Unsecured Loans | 4,180,343 |
| Other Loans | 26,202,263 |
| TOTAL LOANS | 36,347,299 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -209,521 |
| Land And Building | 784,015 |
| Other Fixed Assets | 585,295 |
| NCUSIF Deposit | 433,551 |
| All Other Assets | 12,000 |
| TOTAL ASSETS | 51,177,100 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 50,367 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 6,602,371 |
| Regular shares | 25,517,319 |
| All Other Shares & Deposits | 13,385,407 |
| TOTAL SHARES & DEPOSITS | 45,505,097 |
| TOTAL LIABILITIES | 45,555,464 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 5,621,636 |
| TOTAL EQUITY | 5,621,636 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 51,177,100 |
| INCOME & EXPENSE | |
| Loan Income | 1,857,295 |
| Investment Income | 235,135 |
| Other Income | 434,470 |
| Total Employee Compensation & Benefits | 888,801 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,098,907 |
| Non-operating Income & (Expense) | 2,150 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 45,200 |
| Cost of Funds | 436,421 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 200,737 |
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