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LOCAL 24 EMPLOYEES FEDERAL CREDIT UNION

Mar, 31, 2021 — LOCAL 24 EMPLOYEES FEDERAL CREDIT UNION is a federal credit union headquartered in Pasadena, TX with 1 branch location and about $12.38 million in total assets. Opened 60 years ago in 1961, LOCAL 24 EMPLOYEES FEDERAL CREDIT UNION has about 1,065 members and employs 3 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:LOCAL 24 EMPLOYEES FEDERAL CREDIT UNION
Address:
(Main Office)
5001 Red Bluff Rd
Pasadena, TX 77503
Phone:(281) 542-2400
Fax:(281) 542-2403
Website:n/a
Branches:1 branch locations
Members:1,065
Credit Union Type:Federal Credit Union
Charter Number:14656
Membership Type:Associational - Other than religious or fraternal, or 'low-income'
Corporate Credit Union:No
Year Opened:1961
Last Audited:Jun 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$12,384,225
CEO/Manager:Gisela Verastegui
Chairperson:Billy Wise

Call Report

  • Risk Based Loans
  • ATM/Debit Card Program
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 2,354,514
TOTAL INVESTMENTS 6,441,340
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 980,038
 Other Loans 1,602,368
 TOTAL LOANS 2,582,406
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -30,483
 Land And Building 913,137
 Other Fixed Assets 6,046
 NCUSIF Deposit 94,476
 All Other Assets 22,789
  TOTAL ASSETS 12,384,225
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 86,501
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 0
 Regular shares 10,274,726
 All Other Shares & Deposits 0
  TOTAL SHARES & DEPOSITS 10,274,726
  TOTAL LIABILITIES 10,361,227
 Regular Reserve 141,252
 Other Reserves 0
 Undivided Earnings 1,881,746
  TOTAL EQUITY 2,022,998
  TOTAL LIABILITIES, SHARES, & EQUITY 12,384,225
INCOME & EXPENSE  
 Loan Income 56,730
 Investment Income 7,813
 Other Income 8,494
 Total Employee Compensation & Benefits 44,432
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 47,918
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense -14,512
 Cost of Funds 6,673
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -7,603
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