Dec, 31, 2023 — T E A FEDERAL CREDIT UNION is a federal credit union headquartered in HOUMA, LA with 1 branch location and about $2.48 million in total assets. Opened 57 years ago in 1967, T E A FEDERAL CREDIT UNION has about 887 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: | T E A FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 7220 Main St HOUMA, LA 70360 |
| Phone: | (985) 876-6269 |
| Fax: | (985) 868-8462 |
| Website: | https://www.teafcu.org |
| Branches: | 1 branch locations |
| Members: | 887 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 18462 |
|---|---|
| Membership Type: | Multiple common bond - Primarily educational |
| Corporate Credit Union: | No |
| Year Opened: | 1967 |
| Last Audited: | Mar 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $2,481,058 |
| CEO/Manager: | Marilyn Staidum |
| Chairperson: | GARY WILLIAMS SR |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 187,741 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 368,936 |
| Other Loans | 1,312,231 |
| TOTAL LOANS | 1,681,167 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -18,646 |
| Land And Building | 70,363 |
| Other Fixed Assets | 9,775 |
| NCUSIF Deposit | 26,039 |
| All Other Assets | 0 |
| TOTAL ASSETS | 2,481,058 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 980 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 3,061 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 169,229 |
| Regular shares | 1,155,324 |
| All Other Shares & Deposits | 971,964 |
| TOTAL SHARES & DEPOSITS | 2,296,517 |
| TOTAL LIABILITIES | 2,300,558 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 180,500 |
| TOTAL EQUITY | 180,500 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 2,481,058 |
| INCOME & EXPENSE | |
| Loan Income | 98,820 |
| Investment Income | 26,558 |
| Other Income | 16,481 |
| Total Employee Compensation & Benefits | 71,082 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 77,297 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
| Cost of Funds | 6,710 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -12,655 |
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