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LOCAL 24 EMPLOYEES FEDERAL CREDIT UNION

Sep, 30, 2022 — 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 62 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

Call Report

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Financial Summary

» See also Statement of Financial Condition
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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