Dec, 31, 2023 — ROCKET FEDERAL CREDIT UNION is a federal credit union headquartered in MCGREGOR, TX with 1 branch location and about $31.04 million in total assets. Opened 70 years ago in 1954, ROCKET FEDERAL CREDIT UNION has about 3,216 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: | ROCKET FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 905 W McGregor Dr MCGREGOR, TX 76657-1133 |
| Phone: | (254) 840-2873 |
| Fax: | (254) 840-3412 |
| Website: | https://www.rocketfcu.com |
| Branches: | 1 branch locations |
| Members: | 3,216 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 9799 |
|---|---|
| Membership Type: | Community - Rural District |
| Corporate Credit Union: | No |
| Year Opened: | 1954 |
| Last Audited: | Apr 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $31,038,068 |
| CEO/Manager: | Terry L Sloan |
| Chairperson: | Justin Havelka |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,803,311 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 9,096,653 |
| Unsecured Loans | 939,511 |
| Other Loans | 15,318,407 |
| TOTAL LOANS | 25,354,571 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -179,190 |
| Land And Building | 2,087,031 |
| Other Fixed Assets | 103,560 |
| NCUSIF Deposit | 273,090 |
| All Other Assets | 50,650 |
| TOTAL ASSETS | 31,038,068 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 404,327 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 300,000 |
| Share Drafts | 4,722,509 |
| Regular shares | 16,085,569 |
| All Other Shares & Deposits | 6,295,645 |
| TOTAL SHARES & DEPOSITS | 27,103,723 |
| TOTAL LIABILITIES | 27,808,050 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 3,230,018 |
| TOTAL EQUITY | 3,230,018 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 31,038,068 |
| INCOME & EXPENSE | |
| Loan Income | 1,282,555 |
| Investment Income | 54,917 |
| Other Income | 280,159 |
| Total Employee Compensation & Benefits | 648,202 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 952,650 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 141,718 |
| Cost of Funds | 150,960 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -97,672 |
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