Dec, 31, 2023 — TEXASGULF FEDERAL CREDIT UNION is a federal credit union headquartered in WHARTON, TX with 2 branch locations and about $188.49 million in total assets. Opened 87 years ago in 1937, TEXASGULF FEDERAL CREDIT UNION has about 14,488 members and employs 31 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | TEXASGULF FEDERAL CREDIT UNION |
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Address: (Main Office) | 2101 N Fulton st WHARTON, TX 77488 |
Phone: | (979) 282-2300 |
Fax: | (979) 282-2323 |
Website: | https://www.texasgulffcu.org |
Branches: | 2 branch locations |
Members: | 14,488 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 2322 |
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Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
Corporate Credit Union: | No |
Year Opened: | 1937 |
Last Audited: | Sep 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $188,486,972 |
CEO/Manager: | J. Michael Sterry |
Chairperson: | Weldon Ferrell |
ASSETS: | $ Amount |
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Cash & Equivalents | 10,653,549 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 45,399,904 |
Unsecured Loans | 10,599,011 |
Other Loans | 61,955,418 |
TOTAL LOANS | 117,954,333 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -586,232 |
Land And Building | 1,563,871 |
Other Fixed Assets | 135,262 |
NCUSIF Deposit | 1,578,264 |
All Other Assets | 8,953 |
TOTAL ASSETS | 188,486,972 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 689,285 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 1,808,525 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 25,821,999 |
Regular shares | 64,790,626 |
All Other Shares & Deposits | 72,848,853 |
TOTAL SHARES & DEPOSITS | 163,461,477 |
TOTAL LIABILITIES | 165,959,287 |
Regular Reserve | 0 |
Other Reserves | -3,916,119 |
Undivided Earnings | 26,443,804 |
TOTAL EQUITY | 22,527,685 |
TOTAL LIABILITIES, SHARES, & EQUITY | 188,486,972 |
INCOME & EXPENSE | |
Loan Income | 5,706,757 |
Investment Income | 1,523,469 |
Other Income | 939,387 |
Total Employee Compensation & Benefits | 2,329,564 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 1,397,230 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 205,153 |
Cost of Funds | 2,663,330 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 1,856,351 |
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