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 |
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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 |
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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 |
ASSETS: | $ Amount |
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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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