Dec, 31, 2021 — ILA 1351 FEDERAL CREDIT UNION is a federal credit union headquartered in LA PORTE, TX with 2 branch locations and about $14.42 million in total assets. Opened 56 years ago in 1966, ILA 1351 FEDERAL CREDIT UNION has about 972 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: | ILA 1351 FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 10920 Spencer Hwy LA PORTE, TX 77571 |
| Phone: | (281) 470-1813 |
| Fax: | (281) 470-9400 |
| Website: | http://www.ila1351fcu.com |
| Branches: | 2 branch locations |
| Members: | 972 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 17253 |
|---|---|
| Membership Type: | Associational - Other than religious or fraternal, or 'low-income' |
| Corporate Credit Union: | No |
| Year Opened: | 1966 |
| Last Audited: | Jun 01, 2021 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $14,415,817 |
| CEO/Manager: | Jan Stewart |
| Chairperson: | Shaun M Stewart |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 3,390,583 |
| TOTAL INVESTMENTS | 4,573,823 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 998,617 |
| Other Loans | 4,893,948 |
| TOTAL LOANS | 5,892,565 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -70,274 |
| Land And Building | 512,184 |
| Other Fixed Assets | 9,316 |
| NCUSIF Deposit | 108,867 |
| All Other Assets | -1,247 |
| TOTAL ASSETS | 14,415,817 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 27,094 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 150,444 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 508,479 |
| Regular shares | 11,151,847 |
| All Other Shares & Deposits | 89,595 |
| TOTAL SHARES & DEPOSITS | 11,749,921 |
| TOTAL LIABILITIES | 11,927,459 |
| Regular Reserve | 322,011 |
| Other Reserves | 0 |
| Undivided Earnings | 2,166,347 |
| TOTAL EQUITY | 2,488,358 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 14,415,817 |
| INCOME & EXPENSE | |
| Loan Income | 347,845 |
| Investment Income | 53,616 |
| Other Income | 53,998 |
| Total Employee Compensation & Benefits | 255,681 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 222,924 |
| Non-operating Income & (Expense) | 46,477 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
| Cost of Funds | 40,472 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 21,148 |
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