Dec, 31, 2023 — LOCAL 20 IBEW FEDERAL CREDIT UNION is a federal credit union headquartered in GRAND PRAIRIE, TX with 1 branch location and about $6.83 million in total assets. Opened 60 years ago in 1964, LOCAL 20 IBEW FEDERAL CREDIT UNION has about 2,690 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 20 IBEW FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 688 W Tarrant Rd GRAND PRAIRIE, TX 75050 |
| Phone: | (214) 363-9223 |
| Fax: | (214) 363-5836 |
| Website: | https://local20ibewfcu.com |
| Branches: | 1 branch locations |
| Members: | 2,690 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 16429 |
|---|---|
| Membership Type: | Multiple common bond - other |
| Corporate Credit Union: | No |
| Year Opened: | 1964 |
| Last Audited: | May 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $6,825,636 |
| CEO/Manager: | Kenneth R Everitt |
| Chairperson: | Patrick J Jolly |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 117,476 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 681,378 |
| Other Loans | 3,354,628 |
| TOTAL LOANS | 4,036,006 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -19,357 |
| Land And Building | 0 |
| Other Fixed Assets | 4,539 |
| NCUSIF Deposit | 60,818 |
| All Other Assets | 0 |
| TOTAL ASSETS | 6,825,636 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 7,675 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 1,348,132 |
| Regular shares | 2,225,264 |
| All Other Shares & Deposits | 2,762,069 |
| TOTAL SHARES & DEPOSITS | 6,335,465 |
| TOTAL LIABILITIES | 6,343,140 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 482,496 |
| TOTAL EQUITY | 482,496 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 6,825,636 |
| INCOME & EXPENSE | |
| Loan Income | 272,771 |
| Investment Income | 103,007 |
| Other Income | 107,799 |
| Total Employee Compensation & Benefits | 254,586 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 178,316 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 479 |
| Cost of Funds | 741 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 60,108 |
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