Dec, 31, 2023 — GULF CREDIT UNION is a federally insured state chartered credit union headquartered in GROVES, TX with 4 branch locations and about $317.98 million in total assets. Opened 83 years ago in 1941, GULF CREDIT UNION has about 23,929 members and employs 81 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | GULF CREDIT UNION |
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Address: (Main Office) | 5140 W Parkway St GROVES, TX 77619 |
Phone: | (409) 963-1191 |
Fax: | (409) 962-3584 |
Website: | https://www.gecu.org |
Branches: | 4 branch locations |
Members: | 23,929 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 60205 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1941 |
Last Audited: | Dec 01, 2023 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $317,984,345 |
CEO/Manager: | Todd L Gaudin |
Chairperson: | Johnny Lewallen |
ASSETS: | $ Amount |
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Cash & Equivalents | 17,073,186 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 52,777,945 |
Unsecured Loans | 17,080,928 |
Other Loans | 98,027,364 |
TOTAL LOANS | 168,774,586 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,051,395 |
Land And Building | 14,850,314 |
Other Fixed Assets | 1,482,655 |
NCUSIF Deposit | 3,016,511 |
All Other Assets | 0 |
TOTAL ASSETS | 317,984,345 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 44,236 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 7,804,619 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 75,544,068 |
Regular shares | 146,725,114 |
All Other Shares & Deposits | 64,780,225 |
TOTAL SHARES & DEPOSITS | 287,049,407 |
TOTAL LIABILITIES | 294,898,262 |
Regular Reserve | 0 |
Other Reserves | -2,720,584 |
Undivided Earnings | 25,806,667 |
TOTAL EQUITY | 23,086,083 |
TOTAL LIABILITIES, SHARES, & EQUITY | 317,984,345 |
INCOME & EXPENSE | |
Loan Income | 8,400,268 |
Investment Income | 1,591,604 |
Other Income | 2,154,376 |
Total Employee Compensation & Benefits | 5,678,594 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 6,273,858 |
Non-operating Income & (Expense) | -4,629 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 962,661 |
Cost of Funds | 1,189,412 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 1,192,326 |
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