Dec, 31, 2023 — BEACON FEDERAL CREDIT UNION is a federal credit union headquartered in LA PORTE, TX with 5 branch locations and about $196.70 million in total assets. Opened 75 years ago in 1949, BEACON FEDERAL CREDIT UNION has about 14,755 members and employs 46 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | BEACON FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 2901 Sens Rd LA PORTE, TX 77571 |
| Phone: | (281) 471-1782 |
| Fax: | (281) 470-9287 |
| Website: | https://www.beaconfed.org |
| Branches: | 5 branch locations |
| Members: | 14,755 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 6062 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1949 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $196,703,798 |
| CEO/Manager: | Jack V McAdoo |
| Chairperson: | Eileen Hall |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 12,561,595 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 21,622,283 |
| Unsecured Loans | 9,704,643 |
| Other Loans | 69,948,803 |
| TOTAL LOANS | 108,499,072 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -326,049 |
| Land And Building | 4,048,173 |
| Other Fixed Assets | 842,416 |
| NCUSIF Deposit | 1,819,046 |
| All Other Assets | 56,015 |
| TOTAL ASSETS | 196,703,798 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 1,343,151 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 57,017,919 |
| Regular shares | 79,161,191 |
| All Other Shares & Deposits | 47,745,365 |
| TOTAL SHARES & DEPOSITS | 183,924,476 |
| TOTAL LIABILITIES | 185,267,627 |
| Regular Reserve | 0 |
| Other Reserves | -4,387,078 |
| Undivided Earnings | 15,823,249 |
| TOTAL EQUITY | 11,436,171 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 196,703,798 |
| INCOME & EXPENSE | |
| Loan Income | 5,210,695 |
| Investment Income | 1,237,058 |
| Other Income | 1,554,344 |
| Total Employee Compensation & Benefits | 3,927,495 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 3,905,330 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 309,960 |
| Cost of Funds | 890,039 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 570,811 |
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