Dec, 31, 2023 — U. S. I. FEDERAL CREDIT UNION is a federal credit union headquartered in LA PORTE, TX with 1 branch location and about $19.50 million in total assets. Opened 65 years ago in 1959, U. S. I. FEDERAL CREDIT UNION has about 1,218 members and employs 5 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | U. S. I. FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 1515 Miller Cut Off RD LA PORTE, TX 77571 |
| Phone: | (713) 209-1310 |
| Fax: | (713) 209-1251 |
| Website: | https://usifcu.com |
| Branches: | 1 branch locations |
| Members: | 1,218 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 13132 |
|---|---|
| Membership Type: | Multiple common bond - Primarily chemical |
| Corporate Credit Union: | No |
| Year Opened: | 1959 |
| Last Audited: | Jun 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $19,498,110 |
| CEO/Manager: | Thomas F Butler |
| Chairperson: | Pat Boyle |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 803,183 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 6,168,083 |
| Unsecured Loans | 2,280,841 |
| Other Loans | 9,320,235 |
| TOTAL LOANS | 17,928,924 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -201,726 |
| Land And Building | 0 |
| Other Fixed Assets | 136,912 |
| NCUSIF Deposit | 115,891 |
| All Other Assets | 0 |
| TOTAL ASSETS | 19,498,110 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 587,569 |
| Accounts Payable & Other Liabilities | 43,535 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 1,822,344 |
| Regular shares | 8,617,706 |
| All Other Shares & Deposits | 2,927,480 |
| TOTAL SHARES & DEPOSITS | 13,367,531 |
| TOTAL LIABILITIES | 13,998,635 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 5,499,475 |
| TOTAL EQUITY | 5,499,475 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 19,498,110 |
| INCOME & EXPENSE | |
| Loan Income | 1,123,094 |
| Investment Income | 48,138 |
| Other Income | 78,127 |
| Total Employee Compensation & Benefits | 380,898 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 510,333 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 42,717 |
| Cost of Funds | 87,464 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 283,744 |
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