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LAREDO FEDERAL CREDIT UNION

Dec, 31, 2020 — LAREDO FEDERAL CREDIT UNION is a federal credit union headquartered in LAREDO, TX with 3 branch locations and about $140.09 million in total assets. Opened 65 years ago in 1956, LAREDO FEDERAL CREDIT UNION has about 19,029 members and employs 52 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:19,029
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, 2019
FHLB Member:Yes
Low Income Designation:No
Assets:$140,089,921
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 8,647,123
TOTAL INVESTMENTS 78,091,888
Loans Held for Sale 0
 
 Real Estate Loans 14,779,441
 Unsecured Loans 5,153,815
 Other Loans 27,638,242
 TOTAL LOANS 48,291,406
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -385,623
 Land And Building 2,539,753
 Other Fixed Assets 419,367
 NCUSIF Deposit 1,234,981
 All Other Assets 1,251,026
  TOTAL ASSETS 140,089,921
LIABILITIES & CAPITAL:  
 Dividends Payable 15,115
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 1,658,975
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 16,820,156
 Regular shares 77,052,325
 All Other Shares & Deposits 34,021,307
  TOTAL SHARES & DEPOSITS 127,893,788
  TOTAL LIABILITIES 129,567,878
 Regular Reserve 3,104,792
 Other Reserves -2,579,072
 Undivided Earnings 9,996,323
  TOTAL EQUITY 10,522,043
  TOTAL LIABILITIES, SHARES, & EQUITY 140,089,921
INCOME & EXPENSE  
 Loan Income 2,760,703
 Investment Income 1,328,596
 Other Income 1,604,020
 Total Employee Compensation & Benefits 2,457,238
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 2,546,330
 Non-operating Income & (Expense) 66,351
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 172,208
 Cost of Funds 158,980
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 424,914
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