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National Credit Union Service Organization

GTE FINANCIAL

Dec, 31, 2023 — GTE FINANCIAL is a federal credit union headquartered in TAMPA, FL with 23 branch locations and about $2.97 billion in total assets. Opened 89 years ago in 1935, GTE FINANCIAL has about 234,483 members and employs 542 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 263182794
Name:GTE FINANCIAL
Address:
(Main Office)
711 E Henderson Ave
TAMPA, FL 33602
Phone:(813) 871-2690
Fax:
Website:https://www.gtefinancial.org
Branches:23 branch locations
Members:234,483
Credit Union Type:Federal Credit Union
Charter Number:196
Membership Type:Multiple common bond - Primarily communications and utilities
Corporate Credit Union:No
Year Opened:1935
Last Audited:Dec 01, 2022
FHLB Member:Yes
Low Income Designation:No
Assets:$2,965,261,113
CEO/Manager:Brian Best
Chairperson:Rick Hagan

Call Report

  • Payday Alternative Loans (PAL Loans)
  • First Time Homebuyer Program
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 170,490,525
TOTAL INVESTMENTS 0
Loans Held for Sale 100,000
 
 Real Estate Loans 997,429,996
 Unsecured Loans 202,748,478
 Other Loans 1,242,329,784
 TOTAL LOANS 2,442,680,199
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -30,465,763
 Land And Building 34,839,863
 Other Fixed Assets 8,408,454
 NCUSIF Deposit 24,256,693
 All Other Assets 1,193,533
  TOTAL ASSETS 2,965,261,113
LIABILITIES & CAPITAL:  
 Dividends Payable 1,477,775
 Notes & Interest Payable 150,000,000
 Accounts Payable & Other Liabilities 38,994,101
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 44,000,000
 Share Drafts 144,180,878
 Regular shares 1,161,933,819
 All Other Shares & Deposits 1,185,610,728
  TOTAL SHARES & DEPOSITS 2,491,725,425
  TOTAL LIABILITIES 2,726,197,301
 Regular Reserve 0
 Other Reserves 24,074,604
 Undivided Earnings 214,989,208
  TOTAL EQUITY 239,063,812
  TOTAL LIABILITIES, SHARES, & EQUITY 2,965,261,113
INCOME & EXPENSE  
 Loan Income 117,037,422
 Investment Income 14,323,581
 Other Income 30,328,592
 Total Employee Compensation & Benefits 60,596,441
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 55,180,856
 Non-operating Income & (Expense) 380,262
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 10,200,000
 Cost of Funds 37,841,380
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 25,840,024
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