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LAREDO FEDERAL CREDIT UNION

Dec, 31, 2023 — LAREDO FEDERAL CREDIT UNION is a federal credit union headquartered in LAREDO, TX with 3 branch locations and about $135.16 million in total assets. Opened 68 years ago in 1956, LAREDO FEDERAL CREDIT UNION has about 18,494 members and employs 40 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:LAREDO FEDERAL CREDIT UNION
Address:
(Main Office)
1119 Corpus Christi St
LAREDO, TX 78040-5258
Phone:(956) 722-3971
Fax:(956) 712-3068
Website:https://www.laredofcu.org
Branches:3 branch locations
Members:18,494
Credit Union Type:Federal Credit Union
Charter Number:11011
Membership Type:Community credit unions, urban or rural, other than those designated 'low income'
Corporate Credit Union:No
Year Opened:1956
Last Audited:Dec 01, 2022
FHLB Member:Yes
Low Income Designation:No
Assets:$135,160,325
CEO/Manager:Rafael A Martinez
Chairperson:Richard Perales

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 12,204,623
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 11,857,204
 Unsecured Loans 6,339,927
 Other Loans 46,536,149
 TOTAL LOANS 65,540,100
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -581,588
 Land And Building 2,311,466
 Other Fixed Assets 610,730
 NCUSIF Deposit 1,324,742
 All Other Assets 87,552
  TOTAL ASSETS 135,160,325
LIABILITIES & CAPITAL:  
 Dividends Payable 2,697
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 895,174
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 18,077,400
 Regular shares 82,551,459
 All Other Shares & Deposits 27,360,002
  TOTAL SHARES & DEPOSITS 127,988,861
  TOTAL LIABILITIES 128,886,732
 Regular Reserve 0
 Other Reserves -5,606,156
 Undivided Earnings 11,879,749
  TOTAL EQUITY 6,273,593
  TOTAL LIABILITIES, SHARES, & EQUITY 135,160,325
INCOME & EXPENSE  
 Loan Income 3,412,261
 Investment Income 1,211,344
 Other Income 1,356,945
 Total Employee Compensation & Benefits 3,885,781
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 3,334,239
 Non-operating Income & (Expense) -1,328,791
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 183,814
 Cost of Funds 107,172
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -1,817,158
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