Dec, 31, 2023 — TEXAS TECH FEDERAL CREDIT UNION is a federal credit union headquartered in LUBBOCK, TX with 5 branch locations and about $385.30 million in total assets. Opened 65 years ago in 1959, TEXAS TECH FEDERAL CREDIT UNION has about 33,607 members and employs 125 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | TEXAS TECH FEDERAL CREDIT UNION |
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Address: (Main Office) | 1802 Texas Tech Parkway LUBBOCK, TX 79409 |
Phone: | (806) 742-3606 |
Fax: | (806) 742-3699 |
Website: | https://www.texastechfcu.org |
Branches: | 5 branch locations |
Members: | 33,607 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 12858 |
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Membership Type: | Multiple common bond - Primarily educational |
Corporate Credit Union: | No |
Year Opened: | 1959 |
Last Audited: | Jun 01, 2023 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $385,298,671 |
CEO/Manager: | Chris Hutson |
Chairperson: | Ronald Phillips |
ASSETS: | $ Amount |
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Cash & Equivalents | 12,705,712 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 4,952,068 |
Real Estate Loans | 104,316,861 |
Unsecured Loans | 18,249,300 |
Other Loans | 192,211,433 |
TOTAL LOANS | 314,777,594 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,426,293 |
Land And Building | 25,550,767 |
Other Fixed Assets | 3,526,919 |
NCUSIF Deposit | 3,143,344 |
All Other Assets | 153,446 |
TOTAL ASSETS | 385,298,671 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 8,230,918 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 50,587,815 |
Regular shares | 110,691,529 |
All Other Shares & Deposits | 174,856,889 |
TOTAL SHARES & DEPOSITS | 336,136,233 |
TOTAL LIABILITIES | 344,367,151 |
Regular Reserve | 0 |
Other Reserves | 10,365,993 |
Undivided Earnings | 30,565,527 |
TOTAL EQUITY | 40,931,520 |
TOTAL LIABILITIES, SHARES, & EQUITY | 385,298,671 |
INCOME & EXPENSE | |
Loan Income | 15,622,349 |
Investment Income | 498,943 |
Other Income | 3,178,145 |
Total Employee Compensation & Benefits | 12,219,274 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 9,490,727 |
Non-operating Income & (Expense) | 728,310 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 504,187 |
Cost of Funds | 5,760,387 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 1,905,297 |
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» See also Statement of Financial Condition