Dec, 31, 2023 — GENCO FEDERAL CREDIT UNION is a federal credit union headquartered in WACO, TX with 5 branch locations and about $431.54 million in total assets. Opened 71 years ago in 1953, GENCO FEDERAL CREDIT UNION has about 40,321 members and employs 102 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | GENCO FEDERAL CREDIT UNION |
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Address: (Main Office) | 731 N Valley Mills Dr WACO, TX 76710-4848 |
Phone: | (254) 776-9550 |
Fax: | (254) 776-4633 |
Website: | https://gencofcu.org |
Branches: | 5 branch locations |
Members: | 40,321 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 8585 |
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Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
Corporate Credit Union: | No |
Year Opened: | 1953 |
Last Audited: | Jun 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $431,537,936 |
CEO/Manager: | Neil Ling |
Chairperson: | Robert B Black |
ASSETS: | $ Amount |
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Cash & Equivalents | 49,709,894 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 21,036,773 |
Unsecured Loans | 16,303,634 |
Other Loans | 192,286,865 |
TOTAL LOANS | 229,627,272 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,204,869 |
Land And Building | 7,790,513 |
Other Fixed Assets | 431,655 |
NCUSIF Deposit | 3,625,829 |
All Other Assets | 6,533 |
TOTAL ASSETS | 431,537,936 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 1,106,348 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | -570,470 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 81,958,385 |
Regular shares | 154,507,635 |
All Other Shares & Deposits | 142,238,979 |
TOTAL SHARES & DEPOSITS | 378,704,998 |
TOTAL LIABILITIES | 379,240,876 |
Regular Reserve | 0 |
Other Reserves | -244,340 |
Undivided Earnings | 52,541,400 |
TOTAL EQUITY | 52,297,060 |
TOTAL LIABILITIES, SHARES, & EQUITY | 431,537,936 |
INCOME & EXPENSE | |
Loan Income | 10,610,581 |
Investment Income | 4,932,469 |
Other Income | 6,213,002 |
Total Employee Compensation & Benefits | 7,026,499 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 7,364,833 |
Non-operating Income & (Expense) | 6,143 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 1,022,485 |
Cost of Funds | 4,010,530 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 3,683,683 |
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