Dec, 31, 2023 — OLD OCEAN FEDERAL CREDIT UNION is a federal credit union headquartered in SWEENY, TX with 1 branch location and about $39.16 million in total assets. Opened 75 years ago in 1949, OLD OCEAN FEDERAL CREDIT UNION has about 3,083 members and employs 10 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | OLD OCEAN FEDERAL CREDIT UNION |
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Address: (Main Office) | PO Box 867 SWEENY, TX 77480 |
Phone: | (979) 316-4833 |
Fax: | (979) 647-4813 |
Website: | https://www.oofcu.org |
Branches: | 1 branch locations |
Members: | 3,083 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 6175 |
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Membership Type: | Multiple common bond - Primarily petroleum refining |
Corporate Credit Union: | No |
Year Opened: | 1949 |
Last Audited: | Aug 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $39,158,041 |
CEO/Manager: | PAM BOHAC |
Chairperson: | ALBERT HERRETH |
ASSETS: | $ Amount |
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Cash & Equivalents | 3,590,515 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 0 |
Unsecured Loans | 4,974,542 |
Other Loans | 11,764,604 |
TOTAL LOANS | 16,739,146 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -38,723 |
Land And Building | 1,231,282 |
Other Fixed Assets | 34,914 |
NCUSIF Deposit | 328,242 |
All Other Assets | 0 |
TOTAL ASSETS | 39,158,041 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 48,009 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 9,296,708 |
Regular shares | 20,616,772 |
All Other Shares & Deposits | 2,461,817 |
TOTAL SHARES & DEPOSITS | 32,375,297 |
TOTAL LIABILITIES | 32,423,306 |
Regular Reserve | 0 |
Other Reserves | 683,549 |
Undivided Earnings | 6,051,186 |
TOTAL EQUITY | 6,734,735 |
TOTAL LIABILITIES, SHARES, & EQUITY | 39,158,041 |
INCOME & EXPENSE | |
Loan Income | 1,155,818 |
Investment Income | 960,606 |
Other Income | 380,043 |
Total Employee Compensation & Benefits | 715,459 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 987,503 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 203,485 |
Cost of Funds | 46,375 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 954,228 |
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