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OLD OCEAN FEDERAL CREDIT UNION

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.


ABA Routing Number: 313186909
Name:OLD OCEAN FEDERAL CREDIT UNION
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
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

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
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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