Dec, 31, 2023 — FREESTONE CREDIT UNION is a federally insured state chartered credit union headquartered in TEAGUE, TX with 3 branch locations and about $58.06 million in total assets. Opened 72 years ago in 1952, FREESTONE CREDIT UNION has about 4,813 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: | FREESTONE CREDIT UNION |
|---|---|
| Address: (Main Office) | 613 Main St TEAGUE, TX 75860-1627 |
| Phone: | (254) 739-2594 |
| Fax: | (254) 739-3371 |
| Website: | https://www.freestonecu.org |
| Branches: | 3 branch locations |
| Members: | 4,813 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 68005 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1952 |
| Last Audited: | Jul 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $58,055,521 |
| CEO/Manager: | DeAnne Harris |
| Chairperson: | Nancy Roberts |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 10,173,536 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 13,626,137 |
| Unsecured Loans | 1,747,636 |
| Other Loans | 14,624,108 |
| TOTAL LOANS | 32,537,520 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -80,000 |
| Land And Building | 1,398,905 |
| Other Fixed Assets | 63,309 |
| NCUSIF Deposit | 485,701 |
| All Other Assets | 0 |
| TOTAL ASSETS | 58,055,521 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 48,368 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 268,109 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 16,274,731 |
| Regular shares | 19,633,718 |
| All Other Shares & Deposits | 15,740,780 |
| TOTAL SHARES & DEPOSITS | 51,649,229 |
| TOTAL LIABILITIES | 51,965,706 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 6,089,815 |
| TOTAL EQUITY | 6,089,815 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 58,055,521 |
| INCOME & EXPENSE | |
| Loan Income | 1,617,657 |
| Investment Income | 330,355 |
| Other Income | 654,947 |
| Total Employee Compensation & Benefits | 781,748 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 996,039 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 4,788 |
| Cost of Funds | 283,263 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 556,104 |
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