Sep, 30, 2025 — THE LOCAL FEDERAL CREDIT UNION is a federal credit union headquartered in DALLAS, TX with 1 branch location and about $24.44 million in total assets. Opened 49 years ago in 1977, THE LOCAL FEDERAL CREDIT UNION has about 4,214 members and employs 12 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | THE LOCAL FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 8787 N Stemmons Fwy Ste 185 DALLAS, TX 75247-3721 |
| Phone: | (214) 638-0404 |
| Fax: | (214) 638-0068 |
| Website: | https://www.thelocalfcu.com |
| Branches: | 1 branch locations |
| Members: | 4,214 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 22747 |
|---|---|
| Membership Type: | Multiple common bond - Primarily transportation |
| Corporate Credit Union: | No |
| Year Opened: | 1977 |
| Last Audited: | Dec 01, 2024 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $24,438,638 |
| CEO/Manager: | Jim Ratliff |
| Chairperson: | Ralph Compton |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 2,904,430 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 1,948,221 |
| Unsecured Loans | 3,466,840 |
| Other Loans | 15,964,100 |
| TOTAL LOANS | 21,379,161 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -229,734 |
| Land And Building | 0 |
| Other Fixed Assets | 52,386 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 182,484 |
| All Other Assets | 0 |
| TOTAL ASSETS | 24,438,638 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 620,468 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 2,890,354 |
| Regular shares | 11,304,449 |
| All Other Shares & Deposits | 4,192,408 |
| TOTAL SHARES & DEPOSITS | 18,387,211 |
| TOTAL LIABILITIES | 19,007,679 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 5,430,959 |
| TOTAL EQUITY | 5,430,959 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 24,438,638 |
| INCOME & EXPENSE | |
| Loan Income | 1,513,894 |
| Investment Income | 44,342 |
| Other Income | 496,822 |
| Total Employee Compensation & Benefits | 1,172,346 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 801,106 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 52,576 |
| Cost of Funds | 60,191 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 134,767 |
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