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LOCAL 24 EMPLOYEES FEDERAL CREDIT UNION

Dec, 31, 2021 — LOCAL 24 EMPLOYEES FEDERAL CREDIT UNION is a federal credit union headquartered in PASADENA, TX with 1 branch location and about $13.52 million in total assets. Opened 61 years ago in 1961, LOCAL 24 EMPLOYEES FEDERAL CREDIT UNION has about 1,080 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:1,080
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:$13,515,132
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 3,726,442
TOTAL INVESTMENTS 6,193,340
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 958,135
 Other Loans 1,656,721
 TOTAL LOANS 2,614,856
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -47,590
 Land And Building 905,159
 Other Fixed Assets 3,238
 NCUSIF Deposit 97,110
 All Other Assets 22,577
  TOTAL ASSETS 13,515,132
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 63,327
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 0
 Regular shares 11,404,398
 All Other Shares & Deposits 0
  TOTAL SHARES & DEPOSITS 11,404,398
  TOTAL LIABILITIES 11,467,725
 Regular Reserve 141,252
 Other Reserves 0
 Undivided Earnings 1,906,155
  TOTAL EQUITY 2,047,407
  TOTAL LIABILITIES, SHARES, & EQUITY 13,515,132
INCOME & EXPENSE  
 Loan Income 241,852
 Investment Income 27,587
 Other Income 36,957
 Total Employee Compensation & Benefits 171,818
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 163,781
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense -5,927
 Cost of Funds 27,260
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 16,786
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