Dec, 31, 2023 — GALVESTON SCHOOL EMPLOYEES FEDERAL CREDIT UNION is a federal credit union headquartered in GALVESTON, TX with 0 branch location and about $2.68 million in total assets. Opened 73 years ago in 1951, GALVESTON SCHOOL EMPLOYEES FEDERAL CREDIT UNION has about 685 members offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | GALVESTON SCHOOL EMPLOYEES FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 5200 Avenue N 1/2 GALVESTON, TX 77551 |
| Phone: | (409) 762-4974 |
| Fax: | (409) 762-5385 |
| Website: | https://gsefcu-dn.financial-net.com |
| Branches: | 0 branch locations |
| Members: | 685 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 7092 |
|---|---|
| Membership Type: | Educational |
| Corporate Credit Union: | No |
| Year Opened: | 1951 |
| Last Audited: | Aug 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $2,680,272 |
| CEO/Manager: | Ronesha V Holmes |
| Chairperson: | Tommie D Boudreaux |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 492,802 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 373,679 |
| Other Loans | 1,412,687 |
| TOTAL LOANS | 1,786,366 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -15,073 |
| Land And Building | 0 |
| Other Fixed Assets | 4,372 |
| NCUSIF Deposit | 22,929 |
| All Other Assets | 0 |
| TOTAL ASSETS | 2,680,272 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 68,589 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 217,716 |
| Regular shares | 1,441,151 |
| All Other Shares & Deposits | 689,277 |
| TOTAL SHARES & DEPOSITS | 2,348,144 |
| TOTAL LIABILITIES | 2,416,733 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 263,539 |
| TOTAL EQUITY | 263,539 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 2,680,272 |
| INCOME & EXPENSE | |
| Loan Income | 159,633 |
| Investment Income | 24,545 |
| Other Income | 17,622 |
| Total Employee Compensation & Benefits | 142,244 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 71,098 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 10,100 |
| Cost of Funds | 2,865 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -22,119 |
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