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LOCAL 24 EMPLOYEES FEDERAL CREDIT UNION

Jun, 30, 2021 — LOCAL 24 EMPLOYEES FEDERAL CREDIT UNION is a federal credit union headquartered in Pasadena, TX with 1 branch location and about $12.81 million in total assets. Opened 60 years ago in 1961, LOCAL 24 EMPLOYEES FEDERAL CREDIT UNION has about 1,061 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:1,061
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, 2021
FHLB Member:No
Low Income Designation:No
Assets:$12,813,312
CEO/Manager:Gisela Verastegui
Chairperson:Billy Wise

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 2,793,666
TOTAL INVESTMENTS 6,193,340
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 973,441
 Other Loans 1,846,812
 TOTAL LOANS 2,820,253
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -32,459
 Land And Building 910,478
 Other Fixed Assets 5,145
 NCUSIF Deposit 97,110
 All Other Assets 25,779
  TOTAL ASSETS 12,813,312
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 67,810
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 0
 Regular shares 10,713,726
 All Other Shares & Deposits 0
  TOTAL SHARES & DEPOSITS 10,713,726
  TOTAL LIABILITIES 10,781,536
 Regular Reserve 141,252
 Other Reserves 0
 Undivided Earnings 1,890,524
  TOTAL EQUITY 2,031,776
  TOTAL LIABILITIES, SHARES, & EQUITY 12,813,312
INCOME & EXPENSE  
 Loan Income 119,029
 Investment Income 15,743
 Other Income 18,202
 Total Employee Compensation & Benefits 89,210
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 92,683
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 14,697
 Cost of Funds 13,734
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -28,218
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