Dec, 31, 2022 — IBEW 116 FEDERAL CREDIT UNION is a federal credit union headquartered in FORT WORTH, TX with 1 branch location and about $3.55 million in total assets. Opened 54 years ago in 1969, IBEW 116 FEDERAL CREDIT UNION has about 769 members offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | IBEW 116 FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 603 S ADAMS ST STE 10A FORT WORTH, TX 76104-3023 |
| Phone: | (817) 335-3658 |
| Fax: | (817) 335-3659 |
| Website: | https://www.ibew116fcu.org |
| Branches: | 1 branch locations |
| Members: | 769 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 19393 |
|---|---|
| Membership Type: | Multiple common bond - other |
| Corporate Credit Union: | No |
| Year Opened: | 1969 |
| Last Audited: | Nov 01, 2021 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $3,552,306 |
| CEO/Manager: | CHARISSE MILLER |
| Chairperson: | SAMUEL TAYLOR |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,826,039 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 176,379 |
| Other Loans | 855,943 |
| TOTAL LOANS | 1,032,322 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,444 |
| Land And Building | 1,902 |
| Other Fixed Assets | 0 |
| NCUSIF Deposit | 34,628 |
| All Other Assets | 0 |
| TOTAL ASSETS | 3,552,306 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 19,488 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 488,886 |
| Regular shares | 2,193,088 |
| All Other Shares & Deposits | 612,917 |
| TOTAL SHARES & DEPOSITS | 3,294,891 |
| TOTAL LIABILITIES | 3,314,379 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 237,927 |
| TOTAL EQUITY | 237,927 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 3,552,306 |
| INCOME & EXPENSE | |
| Loan Income | 59,381 |
| Investment Income | 11,341 |
| Other Income | 30,885 |
| Total Employee Compensation & Benefits | 62,606 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 82,315 |
| Non-operating Income & (Expense) | 12,557 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 9,850 |
| Cost of Funds | 510 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -40,159 |
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