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LOCAL 24 EMPLOYEES FEDERAL CREDIT UNION

Dec, 31, 2020 — LOCAL 24 EMPLOYEES FEDERAL CREDIT UNION is a federal credit union headquartered in Pasadena, TX with 1 branch location and about $12.36 million in total assets. Opened 60 years ago in 1961, LOCAL 24 EMPLOYEES FEDERAL CREDIT UNION has about 1,084 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:1,084
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:$12,355,887
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 2,612,471
TOTAL INVESTMENTS 6,196,340
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 902,796
 Other Loans 1,640,494
 TOTAL LOANS 2,543,290
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -40,094
 Land And Building 915,796
 Other Fixed Assets 6,843
 NCUSIF Deposit 94,476
 All Other Assets 26,765
  TOTAL ASSETS 12,355,887
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 84,573
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 0
 Regular shares 10,240,714
 All Other Shares & Deposits 0
  TOTAL SHARES & DEPOSITS 10,240,714
  TOTAL LIABILITIES 10,325,287
 Regular Reserve 141,250
 Other Reserves 0
 Undivided Earnings 1,889,350
  TOTAL EQUITY 2,030,600
  TOTAL LIABILITIES, SHARES, & EQUITY 12,355,887
INCOME & EXPENSE  
 Loan Income 267,772
 Investment Income 101,595
 Other Income 92,017
 Total Employee Compensation & Benefits 208,379
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 281,618
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 2,436
 Cost of Funds 27,200
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -58,249
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