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LAREDO FEDERAL CREDIT UNION

Mar, 31, 2021 — LAREDO FEDERAL CREDIT UNION is a federal credit union headquartered in LAREDO, TX with 3 branch locations and about $153.28 million in total assets. Opened 65 years ago in 1956, LAREDO FEDERAL CREDIT UNION has about 19,040 members and employs 47 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:LAREDO FEDERAL CREDIT UNION
Address:
(Main Office)
1119 CORPUS CHRISTI ST
LAREDO, TX 78040-5258
Phone:(956) 722-3971
Fax:(956) 712-3068
Website:http://www.laredofcu.org
Branches:3 branch locations
Members:19,040
Credit Union Type:Federal Credit Union
Charter Number:11011
Membership Type:Community credit unions, urban or rural, other than those designated 'low income'
Corporate Credit Union:No
Year Opened:1956
Last Audited:Dec 01, 2020
FHLB Member:Yes
Low Income Designation:No
Assets:$153,279,825
CEO/Manager:Rafael A Martinez
Chairperson:Richard Perales

Call Report

  • Commercial Loans
  • Micro Business Loans
  • Overdraft Protection
  • Real Estate Loans
  • Risk Based Loans
  • ATM/Debit Card Program
  • Commercial Share Accounts
  • Insurance/Investment Sales
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 14,827,606
TOTAL INVESTMENTS 85,759,304
Loans Held for Sale 0
 
 Real Estate Loans 13,426,166
 Unsecured Loans 4,851,005
 Other Loans 28,631,083
 TOTAL LOANS 47,953,410
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -380,525
 Land And Building 2,527,263
 Other Fixed Assets 386,904
 NCUSIF Deposit 1,234,981
 All Other Assets 970,882
  TOTAL ASSETS 153,279,825
LIABILITIES & CAPITAL:  
 Dividends Payable 15,203
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 1,829,684
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 20,346,100
 Regular shares 86,615,016
 All Other Shares & Deposits 34,536,782
  TOTAL SHARES & DEPOSITS 141,497,898
  TOTAL LIABILITIES 143,342,785
 Regular Reserve 3,104,792
 Other Reserves -3,250,937
 Undivided Earnings 10,083,185
  TOTAL EQUITY 9,937,040
  TOTAL LIABILITIES, SHARES, & EQUITY 153,279,825
INCOME & EXPENSE  
 Loan Income 669,443
 Investment Income 246,030
 Other Income 274,650
 Total Employee Compensation & Benefits 546,174
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 637,116
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 21,770
 Cost of Funds 30,236
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 86,863
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