Jun, 30, 2024 — LOCAL 24 EMPLOYEES FEDERAL CREDIT UNION is a federal credit union headquartered in PASADENA, TX with 1 branch location and about $14.08 million in total assets. Opened 64 years ago in 1961, LOCAL 24 EMPLOYEES FEDERAL CREDIT UNION has about 1,132 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: | 1,132 |
| 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: | Oct 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $14,076,194 |
| CEO/Manager: | Gisela Verastegui |
| Chairperson: | Billy Wise |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 3,493,360 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 1,220,748 |
| Other Loans | 1,956,031 |
| TOTAL LOANS | 3,176,779 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -50,065 |
| Land And Building | 897,181 |
| Other Fixed Assets | 859 |
| NCUSIF Deposit | 107,508 |
| All Other Assets | 0 |
| TOTAL ASSETS | 14,076,194 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 134,630 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 0 |
| Regular shares | 11,856,680 |
| All Other Shares & Deposits | 0 |
| TOTAL SHARES & DEPOSITS | 11,856,680 |
| TOTAL LIABILITIES | 11,991,310 |
| Regular Reserve | 0 |
| Other Reserves | 141,252 |
| Undivided Earnings | 1,943,632 |
| TOTAL EQUITY | 2,084,884 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 14,076,194 |
| INCOME & EXPENSE | |
| Loan Income | 188,729 |
| Investment Income | 40,792 |
| Other Income | 34,803 |
| Total Employee Compensation & Benefits | 142,730 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 144,643 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 420 |
| Cost of Funds | 20,627 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 37,478 |
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