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GENCO FEDERAL CREDIT UNION

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
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
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

Call Report

  • First Time Homebuyer Program
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
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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